NV Gold Corporation (TSX-V:NVX, OTC:NVGLF) announced it intends to complete a non-brokered private placement for proceeds of up to $500,000 from the sale of 2 million units at $0.20 each.
Each unit will consist of a share and a share purchase warrant exercisable into a share at $0.30 for two years from the date of issue.
The warrants are subject to an acceleration provision should its shares close at $0.45 per share for a period of 10 consecutive trading days.
NV Gold will use the proceeds to advance exploration at its wholly-owned exploration properties in Nevada and for general and administration expenses.
The company owns 100% interest in 21 mineral exploration projects in Nevada, USA.
In connection with the offering, NV Gold may pay a finder’s fee. Closing is subject to meeting customary corporate and regulatory approvals. It may close in multiple tranches as subscriptions are received.