NV Gold Announces Loan

NV Gold (OTCQB:NVGLF) has secured an unsecured loan of US$165,000 from company insider John Watson.

Rhea-AI Summary

NV Gold (OTCQB:NVGLF) has secured an unsecured loan of US$165,000 from company insider John Watson. The loan carries a 12% annual interest rate, compounded annually, with a maturity date of one year from September 2, 2025, or earlier upon demand.

The company plans to utilize the majority of the loan proceeds for Bureau of Land Management fees and exploration services at its Slumber Gold Project, with the remainder allocated for working capital. As a related party transaction, the loan agreement complies with MI 61-101 exemptions, as the loan value is below 25% of the company's market capitalization.

["Secured US$165,000 in immediate financing", "Funds allocated for exploration services at Slumber Gold Project", "Flexible repayment terms with option to repay early"]

Positive

• None.

Negative

• High interest rate of 12% per annum
• Loan is from company insider, indicating possible difficulty securing external funding
• Repayment can be demanded at any time by the lender

Argus Sep 9 session

+5.71% close to close Open Argus

Details

News Market Reaction – NVGLF

On Sep 9, the first trading day after this news, NVGLF closed 5.71% above the previous close.

Data tracked by StockTitan Argus for the Sep 9 session.

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VANCOUVER, BC / ACCESS Newswire / September 8, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that that it has entered into an unsecured loan agreement with John Watson, an insider of the Company, effective September 2, 2025 pursuant to which Mr. Watson provided a loan to the Company in the aggregate amount of US$165,000 (the "Loan").

The Loan bears interest at a rate of 12% per annum, compounded annually, and has a maturity date which is the earlier of one year from the effective date of the loan agreement and the date Mr. Watson demands repayment of the Loan. The Company may pay back the principal amount of the Loan plus accrued and unpaid interest to Mr. Watson at anytime.

The Company intends to use the majority of the proceeds of the Loan for payment of Bureau of Land Management fees and exploration services conducted at the Company's Slumber Gold Project in summer 2025. The remaining portion will be used for liquidity and working capital purposes.

Multilateral Instrument 61-101

The entering into of the loan agreement is a "related party transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Watson is an insider of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the value of the Loan does not exceed 25% of the fair market value of the Company's market capitalization. Mr. Watson, as a non-independent director of the Company, abstained from voting on the resolutions of the board of directors of the Company approving the Loan. The Company did not file a material change report more than 21 days before the entering into of the loan agreement as the terms of the loan agreement were not settled until shortly prior to execution and the Company and the parties wished to close on an expedited basis for sound business reasons.

About NV Gold Corporation

NV Gold Corporation is a well-organized exploration company with 19.2 million shares issued and outstanding. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and Reno, Nevada, and is focused on delivering value through mineral discoveries in Nevada, USA.

Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2025 promises to be highly productive for NV Gold.

On behalf of the Board of Directors,

John Watson, President, Chairman, CEO and Director

For further information, visit the Company's website at www.nvgoldcorp.com or contact:

Freeform Communications at 604.245.0054

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 news release.

SOURCE: NV Gold Corporation

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the terms of NVGLF's new loan agreement in September 2025?

The loan is for US$165,000 with a 12% annual interest rate, compounded annually. It matures in one year (September 2025) or earlier if demanded by the lender, John Watson.

How will NV Gold (NVGLF) use the loan proceeds?

The majority will be used for Bureau of Land Management fees and exploration services at the Slumber Gold Project, with the remainder for working capital purposes.

Who provided the loan to NV Gold (NVGLF)?

John Watson, an insider and non-independent director of the company, provided the unsecured loan.

Why is NVGLF's loan considered a related party transaction?

The loan is considered a related party transaction under MI 61-101 because it was provided by John Watson, an insider of the company. The transaction was exempt from certain requirements as it's below 25% of market capitalization.