NV Gold Announces Closing of First Tranche of Non-Brokered Private Placement
Rhea-AI Summary
NV Gold (OTCQB:NVGLF, TSXV:NVX) closed the first tranche of its non-brokered private placement, issuing 1,759,052 units at $0.40 per unit for gross proceeds of $703,620.80. Each unit includes one share and half a warrant, with whole warrants exercisable at $0.80 for two years.
According to the company, proceeds are expected to fund an anticipated drill program and working capital. An insider participated under MI 61-101 exemptions. No finder’s fees were paid, and all securities carry a four-month-plus-one-day hold period. A second tranche is planned within weeks.
Positive
- $703,620.80 raised in first tranche at $0.40 per unit
- Two-year warrants with $0.80 exercise price attached to each unit
- Proceeds allocated to drill program and working capital, supporting 2026-27 exploration
- No finder’s fees paid on this tranche, limiting transaction costs
Negative
- Issuance of 1,759,052 new units creates equity dilution for existing shareholders
- All securities subject to four-month-plus-one-day hold, limiting immediate liquidity
- Second tranche still pending, creating short-term uncertainty on total capital raised and dilution
AI-generated analysis. How Rhea-AI works. Not financial advice.
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VANCOUVER, BC / ACCESS Newswire / August 31, 2026 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company"), announces that, further to its News Release of August 11, 2026, it has completed a first tranche of its non-brokered private placement whereby it issued 1,759,052 units ("Units") at a price of
All securities issued in connection with the Offering are subject to a statutory hold period expiring four months and one day after closing of the Offering.
The Company did not pay any finder's fees in connection with the closing of the Offering.
The aggregate gross proceeds from the Offering are expected to be used for an anticipated drill program and general working capital.
An insider participated in the Offering and is considered to be a "related party" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Accordingly, the issuance is considered to be a "related party transaction" within the meaning of MI 61-101 but is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares to be issued to the related party does not exceed
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About NV Gold Corporation
NV Gold (TSXV:NVX0(OTCQB:NVGLF) is a well-financed exploration company with ~35 million shares issued, over
On behalf of the Board of Directors,
John Watson, Chairman and CEO
For further information, visit the Company's website at nvx.gold or contact us at 604-245-0054.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
SOURCE: NV Gold Corporation
View the original press release on ACCESS Newswire