NV Gold Corporation Announces New Financial Endeavors

NV Gold Corporation has unveiled a non-brokered private placement to secure up to C$500,000 and has converted US$400,000 in loans into equity to strengthen its balance sheet. The company aims to issue 5,000,000 units priced at C$0.10 per unit, each consisting of one common share and one purchase warrant. Warrants allow the acquisition of additional shares at C$0.20 for 24 months.

The funds raised will support exploration at the Slumber Gold Project and general expenses. The proposal requires approval from the TSX Venture Exchange. Earlier, the company settled debts by converting C$580,677.58 of loans into common shares.

John Watson, President and CEO, now holds 47% of NV Gold shares. His involvement aims to improve the company's financial health amid financial challenges. Regulatory processes remain ongoing.