Nv GOLD Closes Oversubscribed Private Placement
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV GOLD CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT
May 26, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX;
US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce that it has closed
its non-brokered private placement , previously announced on May 11th, 20 20, and
subsequently increased on May 14, 2020, of $1, 189,220 (the “Placement”).
“We appreciate the strong investor interest in NV Gold, and the subsequent closing of
an oversubscribed private placement. In addition, we would like to welcome new
strategic shareholders including GoldSpot Discoveries Corp. (TSXV: SPOT) , and two
large resource focused funds. Our technical team is now finalizing o ur 2020
exploration plans, which is anticipated to commence in the next few
weeks,” commented Peter A. Ball, President and C EO of NV Gold.
The Company sold 8,494,429 units (the “Units”) at CDN$0.1 4 per Unit. Each Unit
consists of one Share and one -half of one Warrant, each whole Warrant exercisable to
acquire one common share at CDN$0.20 per share until May 25, 2022.
The proceeds of the Placement will be used by the Company for the advancement of
the Slumber and Sandy Gold Projects, other existing properties, potential acquisition
of new properties, and for general working capital. The Company paid finder’s fees
totaling CDN$ 5,684 and issued 40,600 finder’s warrants in respect of sub scriptions
under the private placement. Each finder’s warrant is exercisable to acquire one
common share at CDN$0.20 per share until May 25, 2022.
The common shares forming part of the Units and any shares issued upon exercise of
the Warrants or the finder’s warrants are subject to a hold period which expires on
September 26, 2020.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is
focused on delivering value through mineral discoveries and project advancement .
Leveraging its highly experienced in -house technical knowledge, NV Gold’s geological
team intends to utilize its geological databases, which contain a vast treasury of field
knowledge spanning decades of research and exploration, combined with a portfolio of
mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
Peter A. Ball
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or
contact:
Peter A. Ball, President & CEO
Phone: 1-888-363-9883
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 th e 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 and other future plans and objectives of the Company, including exploration
plans at the Slumber and Sandy Gold Projects or other properties , are forward -looking statements that
involve various risks and uncertainties. There can be no assurance that such statements 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 t o differ materially from the Company's plans or
expectations include regulatory 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 Company 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.