TORONTO, Oct. 31, 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 which NexGold issued 69,445,000 units of the Company (the "Units") at a price of C$1.44 per Unit for aggregate gross proceeds of C$100,000,800, and 7,944,000 flow-through shares (the "FT Shares") at a price of C$1.58 per FT Share for aggregate gross proceeds of C$12,551,520 (together, the "Offering"). Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one Common Share of the Company until October 31, 2027 at an exercise price of C$1.92. At any time following January 31, 2027, 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 Offering was led by National Bank Financial Inc. and included BMO Capital Markets and Red Cloud Securities Inc. (collectively, the "Underwriters"). The Underwriters were paid a cash commission equal to 5.0% of the gross proceeds of the Offering, excluding proceeds from the sale of $10,000,000 worth of Units to certain president's list purchasers, on which 2.5% commission was payable.
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 from the sale of 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 Income Tax Act (Canada) (the "Tax Act")).
The securities issued pursuant to the Offering will be subject to a four-month-plus-one-day hold period commencing today under applicable Canadian securities laws.
Insiders of the Company have subscribed for a total of 287,500 Units under the Offering ...
