NexGold Mining closes $10 million private placement to fund Goldboro and Goliath projects
NexGold Mining Corp. [TSXV: NEXG; OTCQX: NXGCF] has closed a private placement pursuant to which NexGold issued 6,060,600 flow-through shares at a price of $1.65 per FT share for aggregate gross proceeds of $10 million.
An amount equal to the aggregate gross proceeds from the sale of the FT shares will be used to incur, on or before Dec. 31, 2027, Canadian exploration expenses that will qualify as flow-through mining expenditures (each term within the meaning of the Income Tax Act (Canada)).
The securities issued pursuant to the offering will be subject to a four-month-plus-one-day hold period expiring on October 27, 2026, under applicable Canadian securities laws. No finders’ fees or commissions were paid in connection with the offering.
Kevin Bullock, president, CEO and director of NexGold, commented: “We are pleased to announce the closing of this flow-through financing to support continued exploration at our Goldboro and Goliath properties. This financing was placed with two of our long-term, long-only, institutional shareholders and will focus on mineral resource expansion potential on our significant property packages.”
NexGold is a gold-focused company with assets in Canada and Alaska, including the Goldboro gold project in Nova Scotia, the Goliath gold complex (which includes the Goliath, Goldlund and Miller deposits) in Northwestern Ontario and additional exploration projects across Canada. Nexgold also holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver volcanogenic massive sulphide project in southeastern Alaska.
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