NV Gold Closes First Tranche of Private Placement

NV Gold Corporation has announced the completion of the first tranche of its non-brokered private placement, raising gross proceeds of $349,800 through the issuance of 3,498,000 units at $0.10 per unit. Each unit includes one common share and one non-transferable warrant, exercisable at $0.20 for 24 months. The company plans to use these funds for exploration at the Slumber Gold Project and general working capital.

John Watson, the company's CEO, purchased 2,950,000 units, increasing his control to approximately 54.20% of the company's shares on an undiluted basis. This transaction is considered a related party transaction under applicable Canadian securities laws but is exempt from certain requirements due to market conditions and company specifics. The tranche awaits final approval from the TSX Venture Exchange.