on NV Gold Corporation (isin : CA67090W2085)
NV Gold Announces Loan Extension
VANCOUVER, BC / ACCESSWIRE / June 28, 2024 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) announced the extension of the maturity dates for two US$100,000 secured loans provided by CEO and director John Watson. Initially set to mature one year from their respective dates in June and July 2023, these loans will now mature on July 10, 2025, or when the lender demands repayment.
The loans are secured by a share pledge agreement involving NV Gold's subsidiary, NV Gold USA, which holds the Company's mineral projects and lease agreements in the United States. This extension operates under Multilateral Instrument 61-101 as a "related party transaction" due to Watson's insider status.
The transactions did not exceed 25% of NV Gold's market capitalization and were settled on commercial terms comparable to those available from an independent party. The urgency of the agreement prevented the filing of a material change report more than 21 days before execution.
R. E.
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