Nv GOLD Closes ON an Initial $1,315,850 of Its Private Placement and Reports Eric Sprott Increases Shareholding
NV GOLD CORPORATION
Suite 588, 580 Hornby Street
Vancouver, BC,
Canada V6C 3B6
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE U.S.
July 6, 2017 Trading Symbol: NVX
NV GOLD CLOSES ON AN INITIAL $1,315,850 OF ITS PRIVATE PLACEMENT AND
REPORTS ERIC SPROTT INCREASES SHAREHOLDING
Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX) (the “Company”) announced
today that it has closed on an initial tranche of subscriptions for 3,759,572 Units at CDN$0.35 per Unit of
the non-brokered private placement of Units of the Company originally announced on June 20, 2017, and
increased on June 27, 2017, (the “Placement”) for gross proceeds of CDN$ 1,315,850. It is expected that
a second tranche of the private placement will close within a week. The largest subscriber to the
Placement, which acquired 1,428,572 Units, is a corporation owned by Eric Sprott.
Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.50 per share until July
5, 2019. The expiry date of each whole Warrant is subject to acceleration such that, should the volume
weighted average price of the common shares of the Company exceed CDN$ 1.00 for ten consecutive
trading days, the Company may notify the holder in writing that the Warrants will expire 2 0 trading days
from receipt of such notice unless exercised by the holder before such date. The Units and any shares of
the Company issued on exercise o f the Warrants forming part of the Units are subject to a hold period
expiring on November 6, 2017.
Eric Sprott, through 2176423 Ontario Ltd. , a corporation which is beneficially owned by him, acquired
1,428,572 Units in the Placement which, when added to the 2.5 million shares of the Company already
owned by 2176423 Ontario Ltd., make him now the indirect owner of approximately 12.5% of the issued
and outstanding common shares of the Company on a non -diluted basis , and approximately 1 7.6%
assuming all share purchase warrants owned by 2176423 Ontario Ltd. are exercised . The above
percentages are calculated based on 31,477,154 common shares issued and outstanding after giving effect
to the Placement. Prior to the Placement, Mr. Sprott , through 2176423 Ont ario Ltd., owned 2,500,000
shares of the Company and 1,250,000 share purchase warrants of the Company.
The proceeds of the Placement will be used by the Company for the acquisition and advancement of new
properties and existing properties of the Company and for general working capital . The Company must
pay finder’s fees totaling CDN$47,358.50 in respect of subscriptions under the Placement.
The Units were acquired by Mr. Sprott , through 2176423 Ontario Ltd. for investment purposes. Mr.
Sprott has a long -term view of the investment and may acquire additional securities of the Company
either on the open market or through private acquisitions or sell securities of the Company either on the
open market or through private dispositions in the future depending on market conditions, reformulation
of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.’s early warning report will appear
on the Company's profile on SEDAR and may also be obtained by calling (416) 362 -7172 (200 Bay
Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J2).
About NV Gold Corporation
NV Gold is junior exploration company based in Vancouver, British Columbia that is focused on
delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its
highly experienced in -house technical knowledge, NV Gold’s g eological team intends to use its
geological database, which contains a vast treasury of field knowledge spanning decades of research and
exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease
or joint ven ture. NV Gold plans to aggressively acquire additional land positions for the growth of its
business.
On behalf of the Board of Directors,
(sgd.) "John E. Watson"
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
Phone: 303.674.9400
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward -looking statements or information. All statements other than statements
of historical fact included in this release, including, without limitation, statements regarding the proposed uses of
such funds, the potential to create opportunities for lease or joint venture and other future plans and objectives of the
Company, including exploration plans, are forward -looking statements that involve various risks and uncertainties.
There can be no assurance that such statem ents will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include r egulatory issues, market prices, availability of capital
and financing, general economic, market or business conditions, timeliness of government or regulatory approvals
and other risks detailed herein and from time to time in the filings made by the Compa ny with securities regulators.
The Company disclaims any intention or obligation to update or revise any forward -looking statements whether as a
result of new information, future events or otherwise except as otherwise required by applicable securities
legislation.