NevGold Announces Closing of C$10M Brokered Private Placement Financing

Core Viewpoint - NevGold Corp. has successfully closed a brokered private placement financing, raising gross proceeds of $10 million to advance its mineral projects, particularly the Limousine Butte Project in Nevada, following a significant antimony discovery [1][2]. Financing Details - The financing involved the issuance of 15,384,614 Units at a price of $0.65 per Unit, each consisting of one common share and one-half of a common share purchase warrant [2]. - Each warrant allows the holder to purchase one common share at an exercise price of $0.90 until November 19, 2027, with a restriction on exercise until January 19, 2026 [1][2]. Use of Proceeds - The net proceeds from the offering will be allocated to advancing the Limousine Butte gold-antimony project, Nutmeg Mountain gold project, Zeus copper project, working capital, and general corporate purposes [2]. Agent and Compensation - Clarus Securities Inc. acted as the sole agent and bookrunner for the offering, receiving a cash commission of $700,000 and 1,076,922 non-transferable compensation options [3]. Regulatory Compliance - The offering was conducted under the listed issuer financing exemption and is not subject to a hold period under Canadian securities laws, although compensation options are subject to a hold period expiring on March 20, 2026 [4]. Company Overview - NevGold is focused on exploring and developing large-scale mineral systems in Nevada and Idaho, owning 100% interests in several projects including Limousine Butte and Nutmeg Mountain [7].