NV Gold (TSX-V:NVX, OTC:NVGLF) announced that it has entered into agreements with its CEO and a director of the company John Watson, the lender, to extend the maturity date of two loans.
The first US$100,000 loan was issued by the lender to the company on June 26, 2023, and the second US$100,000 loan was issued on July 10, 2023.
The Nevada-focused explorer said the maturity date of the loans has been extended to the earlier of July 10, 2025, and the date the lender demanded repayment of the applicable loan.
The loans are secured by a share pledge agreement, whereby the company pledged to the lender all the issued and outstanding shares of NV Gold Corporation (TSX-V:NVX, OTC:NVGLF), a wholly-owned subsidiary of the company (NV Gold USA).
NV Gold USA holds the company’s mineral projects and lease agreements in the US.
The company owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totalling 53.4 square kilometers.