Sign Up

NexGold Announces Closing of C$10 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV:NEXG; OTCQX: NXGCF), (TSXV: NEXG; OTCQX:NXGCF) ("NexGold" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement. Pursuant to the offering, NexGold issued 13,889,000 units of the Company (the "Units") at a price of C$0.72 per Unit for aggregate gross proceeds of C$10,000,080 (the "Offering"). Each Unit consists of one common share of the Company (each a "Common Share") and one common share purchase warrant (each a "Warrant"). Each Warrant is exercisable to acquire one Common Share of the Company for a period of 36 months at an exercise price of C$1.05 from the closing of the Offering. The Offering was led by National Bank Financial Inc. and included Red Cloud Securities Inc. as a Co-Manager (collectively, the "Underwriters"). The Underwriters were paid a cash commission equal to 6.0% of the gross proceeds of the Offering, excluding proceeds from the sale of $500,000 worth of Units to certain president's list purchasers, on which no commission was payable.

The net proceeds of the Offering will be used for the continued advancement of the Company's mineral properties and for general corporate purposes.

The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period in Canada commencing today under applicable Canadian securities laws.

An insider of the Company has subscribed for 348,000 Units under the Offering for aggregate gross proceeds of $250,560. The subscription by the "insider" is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by the "related party" of the Company were not settled until shortly prior to the closing of the ...

https://www.benzinga.com/pressreleases/25/04/g44709495/nexgold-announces-closing-of-c-10-million-bought-deal-private-placement