TORONTO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV:NEXG; OTCQX: NXGCF), (TSXV: NEXG; OTCQX:NXGCF) ("NexGold" or the "Company") announces that it has entered into an agreement with National Bank Financial Inc. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase on a bought deal private placement basis (i) 69,445,000 units of the Company (the "Units") at a price of C$1.44 per Unit for gross proceeds of C$100,000,800, and (ii) 6,330,000 flow through shares (the "FT Shares") at a price of C$1.58 per FT Share for gross proceeds of C$10,001,400 (together, the "Offering").
Each Unit will be comprised of one common share of the Company and one common share purchase warrant (each, a "Warrant").
Each Warrant will be exercisable to acquire one common share of the Company for a period of 24 months at an exercise price of C$1.92 from the Closing Date (as defined below). At any time following the 15-month anniversary of the Closing Date, if the closing price of the common shares on the TSX Venture Exchange (the "TSXV") exceeds the exercise price for 20 or more consecutive trading days, the Company may, within 10 days following such occurrence, deliver a notice to the holders thereof accelerating the expiry date of the Warrants to a date that is 30 days after the date of such notice.
The Underwriters will also have an option, exercisable in whole or in part, at any time up to 48 hours prior to the Closing Date, to purchase up to an additional 15% of the offering size in Units (the "Underwriters' Option"), at the offering price of the Units.
The net proceeds from the Units will be used to fund expenditures related to the development of the Goldboro open-pit gold project ("Goldboro Gold Project") and for general corporate and working capital purposes. An amount equal to the aggregate gross proceeds raised from the FT Shares will be used to incur, on or before December 31, 2026, "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" (each term within the meaning of the Tax Act).
The Offering is expected to close on or about October 31, 2025 or such other date as agreed between the Company and National Bank Financial Inc. (the "Closing Date"), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the conditional approval of the TSXV. The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the ...
