Non-brokered offering finances work on company's mining properties
By Devika Patel
Knoxville, Tenn., March 4 - NV Gold Corp. said it concluded the first tranche of a non-brokered private placement of units. The company also said it has received interest from a subscriber for a further 3,333,334 units. As a result, the placement will now offer 597,334 more units than originally planned and has been increased by C$179,200 to C$1.68 million.
The deal priced for between C$1.2 million and C$1.5 million, and the company raised C$679,200 in the initial tranche.
The company is now selling 5,597,334 units of one common share and a half-share warrant at C$0.30 per unit. It sold 2,264,000 units in the first tranche.
Each whole warrant is exercisable at C$0.40 for 18 months. The strike price reflects a 42.86% premium to the closing share price of C$0.28 on Feb. 10.
Proceeds will be used for work on the company's properties and general corporate purposes.
The Vancouver, B.C., mining company explores for gold and copper.
| Issuer: | NV Gold Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1,679,200
|
| Units: | 5,597,334 (2,264,000 in the first tranche)
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 11
|
| Settlement date: | March 4 (for C$679,200)
|
| Stock symbol: | TSX Venture: NVX
|
| Stock price: | C$0.28 at close Feb. 10
|
| Market capitalization: | C$5.55 million
|
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