Nevada Exploration Announces Private Placement for Total Gross Proceeds of up to C$1,430,000
Nevada Exploration Announces Private Placement for Total Gross Proceeds of
up to C$1,430,000
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, June 27, 2023 -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE;
OTCQB:NVDEF) announces a non-brokered private placement offering of up to 13,000,000 units (the “Units”) at a price of
$0.11 CAD per Unit (the “Offering”), for total gross proceeds of up to C$1,430,000.
Units priced at CAD$0.11 to be Comprised of one Common Share and a full Warrant
Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one Common Share
purchase warrant (a “Warrant”), with each Warrant entitling the holder thereof to acquire an additional Common Share at an
exercise price of C$0.20 per Common Share for 36 months after the date of issuance (the “Closing Date”). If after four months
plus one day from the Closing Date the closing price (or closing bid price on days when there are no trades) of NGE’s
common shares is greater than C$0.40 per share 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, with such
notice being the issuance of a news release by the Company announcing the acceleration of the expiry date.
Use of Proceeds
Proceeds from the Offering will be used for general working capital purposes.
Offering Subject to Necessary Approvals
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.
Offering Available to Existing Shareholders and in Accordance with Other Prospectus Exemptions
In addition to other prospectus exemptions commonly relied on in private placements, such as the accredited investor
exemption, the Offering is being made available to qualifying existing shareholders of the Company in reliance on BC
Instrument 45-534 Exemption from prospectus requirement for certain trades to existing security holders and other provincial
equivalents (the “Existing Security Holder Exemption”). To comply with the criteria of the Existing Security Holder Exemption,
the ability of existing shareholders to participate in the Offering under the Existing Security Holder Exemption shall be subject
to, among other criteria, the following:
• June 26, 2023, has been set as the record date (the “Record Date”) for the purpose of determining existing security
holders entitled to purchase Units pursuant to the Existing Security Holder Exemption;
• To participate, a qualified shareholder must deliver an executed subscription agreement in the required form, which will
include the requirements of the Existing Security Holder Exemption;
• The aggregate acquisition cost to a subscriber under the Existing Security Holder Exemption cannot exceed C$15,000
per twelve-month period unless that subscriber has obtained advice from a registered investment dealer regarding the
suitability of the investment; and
• Subscriptions will be accepted by the Company on a “first come, first served basis”; therefore, if the Offering is over-
subscribed it is possible that a shareholder’s subscription may not be accepted by the Company.
Further terms and conditions shall be set out in the form of subscription agreement that will be made available to interested
shareholders, who are directed to contact the Company as soon as possible in accordance with the contact information
provided below. There is no material fact or material change of the Company that has not been generally disclosed.
About Nevada Exploration Inc.
Led by an international team of explorers, NGE is applying modern technology to systematically explore for the undiscovered
second half of Nevada’s gold endowment waiting to be uncovered within Nevada’s valley basins. NGE is advancing a portfolio of
gold exploration projects, primarily focused on three district-scale Carlin-type gold projects, including its flagship South Grass
Valley project, located near the Cortez Complex of Nevada Gold Mines.
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.
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.