NV Gold (NVX.V) announced last week it wanted to raise C$980,000 in a private placement priced at C$0.14 but as the demand was higher than the initially targeted amount, NV Gold upsized the placement to C$1.15M. The units are still priced at C$0.14 and will consist of one common share as well as half a warrant with an exercise price of C$0.20, valid for two years. The lead order for the financing is coming from GoldSpot Discoveries (SPOT.V) and considering NV Gold had to upsize the placement just days after announcing it will very likely result in a fast closing.
This financing is a good move from NV Gold as its previous attempt to raise money (C$750,000 in February) didn’t go through as COVID-19 closed the financing window. Fortunately the current placement is priced at C$0.14, which is almost 20% higher than the C$0.12 level the company previously tried to raise money at.
Disclosure: The author has a small long position in NV Gold.
