NV Gold Corporation Completes First Tranche of Private Placement

NV Gold Corporation has successfully closed the first tranche of its private placement, following an earlier announcement. The tranche involved the issuance of 3,423,330 units at $0.18 per unit, raising $616,199. Each unit includes a common share and a warrant, allowing conversion at $0.40 within 24 months.

Proceeds will fund exploration at the Slumber Gold Project and general corporate purposes. These securities are subject to a four-month hold, with no finder's fees incurred. Insider participation constituted a related party transaction, exempted from valuation approval under MI 61-101 guidelines.

John Watson, CEO, acquired 3,110,000 units, increasing his control over the shares. NV Gold intends to proceed with additional tranches, pending TSX Venture Exchange approval.