Nevada Exploration Announces Financing
Nevada Exploration Announces Financing
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 08, 2019 -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V: NGE; OTCQB:
NVDEF) announces a non-brokered private placement offering of up to 2,000,000 units (the “Units”) at a price of $0.25 per Unit
(the “Offering”), for total gross proceeds of up to $500,000. Each Unit will consist of one common share in the capital of the
Company (a “Common Share”) and one-half of one Common Share purchase warrant (a “Warrant”), with each whole Warrant
entitling the holder thereof to acquire an additional Common Share at an exercise price of $0.45 per Common Share for 30
months after the date of issuance (the “Closing Date”). If the closing price of the common shares of NGE quoted on the TSX
Venture Exchange is greater than $0.80 for 10 consecutive trading days, NGE may accelerate the expiry date of the Warrants
to the 30th day after the date on which NGE gives notice to the Warrant holders of such acceleration.
Proceeds from the Offering will be used to fund drilling at NGE’s South Grass Valley Project and for general working capital.
The Offering is subject to receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued at
closing of the Offering will be subject to a four month plus one day hold period from the date of issue, as well as to any other
re-sale restrictions imposed by applicable securities regulatory authorities. Subject to approval by the TSX Venture Exchange
and applicable securities legislation, NGE may pay finder’s fees with respect to certain subscriptions from arm’s length
subscribers in accordance with the TSX Venture Exchange Policies.
NGE’s President, James Buskard: “Based on the exciting results we’ve shared from our ongoing program at South Grass
Valley, we are keen to continue drilling. Hole SGVC006 made it to a depth of 490 metres before the holiday break. Drilling
has recommenced, and the hole is now at approximately 540 metres. As with all of the drilling, detailed logging and
interpretation will begin once we receive assays, though as with SGVC005, early logging shows the continued presence of
thick intervals of characteristic Carlin-style structural features and alteration textures, similar to those seen in the previous
holes, which we feel is very encouraging, especially given the area and thicknesses over which we’re seeing these features.
This is certainly a large system.”
Upcoming Events
NGE is pleased to welcome its stakeholders to visit with its team at the following upcoming events:
VANCOUVER RESOURCES INVESTMENT CONFERENCE (Vancouver)
Sunday and Monday, January 20th and 21st, 2019
https://cambridgehouse.com/e/vancouver-resource-investment-conference-2019-76
NGE Kickoff Breakfast Event: https://investor.nevadaexploration.com/vric/
Corporate Presentation: Monday, January 21st (Workshop 6) 2:10 - 2:20 pm
BOOTH: 719
PDAC (Toronto)
Sunday to Wednesday, March 3rd to 6th, 2019
https://www.pdac.ca/convention
About Nevada Exploration Inc.
NGE is an exploration company advancing a portfolio of new district-scale gold exploration projects along Nevada’s Battle
Mountain-Eureka (Cortez) Trend. NGE is led by an experienced management team that has been involved in several
significant discoveries in Nevada, including the discovery of Lone Tree and Rabbit Creek (part of the Twin Creeks Mine).
NGE’s team has spent the last decade integrating the use of hydrogeochemistry with conventional exploration tools to develop
a Nevada-specific regional-scale geochemistry exploration program.
With new proprietary technology, NGE has completed the world’s largest groundwater sampling program for gold exploration,
collecting approximately 6,000 samples to evaluate Nevada’s covered basins for new gold exploration targets. To advance
follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a
prospecting tool by developing its Scorpion drill rig, a small-footprint, truck-mounted, small-diameter RC drill rig specifically
tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).
By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is overcoming
the challenges and radically reducing the costs of exploring in Nevada’s covered basins, and is taking significant steps to open
this important new search space up for district-scale exploration.
For further information, please contact:
Nevada Exploration Inc.
Email: [email protected]
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Wade A. Hodges, CEO & Director, Nevada Exploration Inc., is the Qualified Person, as defined in National Instrument 43-101,
and has prepared the technical and scientific information contained in this News Release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking
information”) within the meaning of applicable securities laws, including, without limitation, expectations, beliefs, plans, and
objectives regarding projects, potential transactions, and ventures discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous
assumptions, regarding, among other things, the assumption the Company will continue as a going concern and will continue
to be able to access the capital required to advance its projects and continue operations. While the Company considers these
assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking information contained herein. Among the important factors that could cause actual results to differ materially
from those indicated by such forward-looking statements are the risks inherent in mineral exploration, the need to obtain
additional financing, environmental permits, the availability of needed personnel and equipment for exploration and
development, fluctuations in the price of minerals, and general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous
disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information
contained herein to reflect future results, events or developments, except as required by law.
United States Advisory:
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to
Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or
for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities
Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of
the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in
accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or
sale would be unlawful.