- NevGold Corp. (NAU) has closed its non-brokered private placement of flow-through units for proceeds of approximately $1.1M
- FT units, consisting of one FT common share and one half of one share purchase warrant, were offered at a price of C$0.65
- The gross proceeds raised will be used for general exploration expenditures
- NevGold Corp. (NAU) is trading steady at C$0.53 per share
NevGold Corp. (NAU) has closed its previously announced non-brokered private placement of flow-through units for proceeds of approximately $1.1M.
The company issued 1,723,076 flow-through units at a price of C$0.65 per unit.
Each flow-through unit consists of one flow-through common share and one half of one transferable non-flow-through share purchase warrant.
Each whole warrant will be exercisable to acquire one additional non-flow-through common share for 24 months at an exercise price of $0.85.
NevGold CEO, Brandon Bonifacio stated that this quick closing of financing will allow the company to get active in the field at its high-grade Ptarmigan project in BC while maintaining the hard dollars that it has raised to date for its Western USA projects including Limousine Butte, Nutmeg Mountain, and Cedar Wash.
“Our technical team has completed data interpretation at Ptarmigan over the past year, and we see significant opportunities to conduct a field program over the next 6-12 months to recognize the value of the projectto the benefit of our shareholders. We are thankful for the support from our new and existing shareholders, and we expect to have more news out of our drill program at Limousine Butte shortly.”
The gross proceeds will be used for general exploration expenditures.
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada, Idaho, and British Columbia. NevGold owns a 100 per cent interest in the Limousine Butte and Cedar Wash gold projects in Nevada and the Ptarmigan silver-polymetallic project in Southeast BC and has an option to acquire 100 per cent of the Nutmeg Mountain gold project in Idaho.
NevGold Corp. (NAU) is trading steady at C$0.53 per share.