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  • Nevada Exploration (NGE) has closed its non-brokered private placement offering earning gross proceeds of $4,750,000
  • Proceeds from the offering will be used primarily to advance the South Grass Valley Project
  • The company paid finders’ fees of $197,066 in cash, 320,600 in shares, and 1,835,721 in finder warrants
  • Nevada Exploration Inc is a Canada-based company engaged in the business of acquiring, exploring and developing mineral resource properties
  • Nevada Exploration Inc. (NGE) opened trading at C$0.135 per share

Nevada Exploration (NGE) has closed its non-brokered private placement offering.

The company issued 36,538,460 units at a price of $0.13 per unit, for gross proceeds of $4,750,000.

NGE’s President, James Buskard commented,

 “Executing our Phase 3 drill program at South Grass Valley – to test our primary target at what is now our flagship project – is the culmination of more than a decade of systematic exploration through which we’ve reduced a search space that began as north-central Nevada, down to a specific basin, down to a specific district-scale mineral system, and now down to a specific well-constrained target, all of which has been specifically designed to search for new globally significant Carlin-type gold deposits.

“At this important milestone for both the project and our company, we would like to take this opportunity to thank all of our long-term supporters as well as our new shareholders for their strong support to fund this program. We’ve begun an exciting chapter of our history, and as the drilling continues we plan to return to our monthly updates to keep our stakeholders up to date, so stay tuned in the coming weeks for more information about our first hole of the program, SGVC012, as well as how things are progressing with our second hole, SGVC013.”

Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire an additional share at a price of $0.20 for 30 months.

Proceeds from the offering will be used to advance the South Grass Valley Project and for general working capital.

The company paid finders’ fees of $197,066 in cash, 320,600 in shares, and 1,835,721 in finder warrants.

The offering is subject to final TSX Venture Exchange approval.

All securities issued are subject to a hold period expiring October 18, 2021.

Nevada Exploration Inc is a Canada-based company engaged in the business of acquiring, exploring and developing mineral resource properties. The company’s Nevada project properties include Grass Valley, South grass valley and Kelly Creek.

Nevada Exploration Inc. (NGE) opened trading at C$0.135 per share.

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