NevGold Announces Upsize to C$6M Brokered Private Placement Financing
Summary
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- NevGold Corp. (NevGold or the Company) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that, due to strong investor demand, it has agreed with Clarus Securities Inc. (the Lead Agent), as Lead Agent and sole bookrunner, on behalf of a syndicate of agents (the Agents), to increase the size of its previously announced $5,500,000 best-efforts marketed private placement conducted pursuant to the Listed Issuer Financing Exemption, as defined below (the Offering).Pursuant to the upsized deal terms, the Offering will now consist of up to 20,000,000 units of the Company (the Units) at a price of $0.30 per Unit (the Issue Price) for gross proceeds to the Company of up to $6,000,000. Each Compensation Option will entitle the holder thereof to acquire one Unit at the Issue Price for a period of 24 months from the closing of the Offering.The Company intends to use the net proceeds of the Offering for advancing its Limousine Butte gold-antimony project (Nevada), Nutmeg Mountain gold project (Idaho), working capital and general corporate purposes.The closing of the Offering is anticipated to occur on or about May 29, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 Prospectus Exemptions (NI 45-106) and the Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption the Units will be offered for sale to purchasers resident in Canada other than the Province of Quebec and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the Listed Issuer Financing Exemption). This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.ON BEHALF OF THE BOARDFor further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte (gold-antimony) and Cedar Wash (gold) projects in Nevada, and the Nutmeg Mountain (gold) and Zeus (copper) projects in Idaho.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 release.This news release contains forward-looking statements that are based on the Companys current expectations and estimates. Such risks include, but are not limited to, the failure to complete the Offering in the timeframe and on the terms as anticipated by management, market conditions and the ability to obtain all necessary regulatory approvals.