London
16 °C
Manchester
17 °C
Glasgow
Dublin
17 °C
Belfast
Washington
21 °C
Denver
Atlanta
Dallas
Houston Texas
New Orleans
El Paso
Phoenix
Los Angeles
22 °C
10 °C
14 °C
2 °C
16 °C
18 °C
25 °C
NV Gold Announces Loan
NYSE - LSE
NV Gold Announces Loan
VANCOUVER, BC / ACCESS Newswire / September 8, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announces that that it has entered into an unsecured loan agreement with John Watson, an insider of the Company, effective September 2, 2025 pursuant to which Mr. Watson provided a loan to the Company in the aggregate amount of US$165,000 (the "Loan").
The Loan bears interest at a rate of 12% per annum, compounded annually, and has a maturity date which is the earlier of one year from the effective date of the loan agreement and the date Mr. Watson demands repayment of the Loan. The Company may pay back the principal amount of the Loan plus accrued and unpaid interest to Mr. Watson at anytime.
The Company intends to use the majority of the proceeds of the Loan for payment of Bureau of Land Management fees and exploration services conducted at the Company's Slumber Gold Project in summer 2025. The remaining portion will be used for liquidity and working capital purposes.
Multilateral Instrument 61-101
The entering into of the loan agreement is a "related party transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Watson is an insider of the Company. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the value of the Loan does not exceed 25% of the fair market value of the Company's market capitalization. Mr. Watson, as a non-independent director of the Company, abstained from voting on the resolutions of the board of directors of the Company approving the Loan. The Company did not file a material change report more than 21 days before the entering into of the loan agreement as the terms of the loan agreement were not settled until shortly prior to execution and the Company and the parties wished to close on an expedited basis for sound business reasons.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company with 19.2 million shares issued and outstanding. NV Gold has 21 exploration projects in Nevada comprising 639 100%-Company-owned lode mining claims totaling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and Reno, Nevada, and is focused on delivering value through mineral discoveries in Nevada, USA.
Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2025 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Watson, President, Chairman, CEO and Director
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: NV Gold Corporation
View the original press release on ACCESS Newswire
P.M.Martin--SMC
