NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
VANCOUVER, B.C., April 04, 2018 (GLOBE NEWSWIRE) -- NV Gold Corporation (TSX.V:NVX) (the “Company”) announced today that it has closed its non-brokered private placement of CDN$1,002,000 in units announced on March 19, 2018 (the “Placement”).
The Company sold 1,670,000 units (the “Units”) at CDN$0.60 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.90 per share until April 3, 2020. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.50 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date. The Units and any shares issued upon exercise of the Warrants are subject to a hold period which expires on August 4, 2018.
Correction
The Company also wants to correct an error in its news release of March 23, 2018 announcing the closing of its previous private placement on that date. In the news release it stated that the Warrants issued in that placement were exercisable until March 23, 2018. The news release should have indicated the Warrants were exercisable until March 23, 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 utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
(sgd.) "John E. Watson"
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
Phone: 303.674.9400
Email: john@nvgoldcorp.com
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 the adequacy or accuracy of this release.