NV Gold Closes First Tranche of Private Placement

NV Gold Corporation announced the successful closing of the first tranche of its non-brokered private placement. The company issued 1,759,052 units at a price of $0.40 per unit, resulting in gross proceeds of $703,620.80. Each unit consists of one common share and half a transferable warrant, with the whole warrant exercisable at $0.80, expiring in two years. NV Gold plans to finalize a second tranche soon.

The funds will support an upcoming drilling program and general working capital. An insider participated, marking this as a related party transaction under MI 61-101, but exempt from certain valuation and approval requirements. Securities are subject to a four-month hold period and are not registered under the United States Securities Act of 1933.