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
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.