NV Gold Secures $30,000 through Warrant Exercise

Rhea-AI Summary

NV Gold (NVGLF) has announced that its President, Chairman, CEO and director John Watson has exercised 100,000 common share purchase warrants at $0.30 per warrant, generating proceeds of $30,000 for the company.

Following this transaction, Watson's holdings increased to 2,040,543 common shares, 97,500 stock options, and 1,025,000 warrants. His ownership now represents approximately 20.25% of the company's outstanding shares (28.25% on a partially diluted basis). This increase has made Watson a 'Control Person' of the company, a status that received disinterested shareholder approval at the annual general meeting on January 23, 2025.

Positive

• CEO demonstrates confidence in company through personal investment of $30,000
• Increased insider ownership to 20.25% aligns management interests with shareholders

Negative

• Small capital raise of only $30,000 indicates funding secured
• High concentration of ownership (20.25%) in single insider may affect stock liquidity

VANCOUVER, BC / ACCESS Newswire / March 25, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that John Watson, President, Chairman, CEO and a director of the Company, has increased his equity position in the Company pursuant to the exercise of 100,000 common share purchase warrants (the "Warrants") at a price of $0.30 per Warrant, resulting in total proceeds of $30,000.

Prior to exercising the Warrants, Mr. Watson beneficially owned and controlled an aggregate of 1,940,543 common shares, 97,500 stock options and 1,125,000 common share purchase warrants, representing approximately 19.45% of the Company's issued and outstanding common shares (28.25% on a partially diluted basis, assuming conversion of Mr. Watson's stock options and warrants into common shares). Following the Warrant exercise, Mr. Watson beneficially owns and controls an aggregate of 2,040,543 common shares, 97,500 stock options and 1,025,000 common share purchase warrants, representing approximately 20.25% of the Company's issued and outstanding common shares (28.25% on a partially diluted basis, assuming conversion of Mr. Watson's stock options and warrants into common shares). Mr. Watson is now a "Control Person" of the Company (as such term is defined in the policies of the TSX Venture Exchange (the "Exchange")) and the Company obtained disinterested shareholder approval under the policies of the Exchange with respect to Mr. Watson becoming a "Control Person" at the Company's annual general meeting held on January 23, 2025.

About NV Gold Corporation

NV Gold Corporation is a well-organized exploration company with ~10 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

How much did NV Gold (NVGLF) raise through the recent warrant exercise?

NV Gold raised $30,000 through the exercise of 100,000 warrants at $0.30 per warrant by CEO John Watson.

What is John Watson's current ownership percentage in NVGLF after the warrant exercise?

John Watson now owns 20.25% of NV Gold's outstanding shares, or 28.25% on a partially diluted basis.

When did NVGLF shareholders approve Watson becoming a Control Person?

Shareholders approved Watson becoming a Control Person at the annual general meeting on January 23, 2025.

How many shares and warrants does John Watson now control in NVGLF?

Watson now controls 2,040,543 common shares, 97,500 stock options, and 1,025,000 warrants.