On December 5, 2022, NevGold Corp. (“NevGold”) announced the closing of its brokered private placement financing (the “Private Placement”) of 9,766,395 units (each, a “Unit”) at a purchase price of $0.42 per Unit for aggregate gross proceeds of $4,101,885 to NevGold. Each Unit was comprised of one common share in the capital of NevGold (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.60 per share until December 5, 2024. The Private Placement was led by Beacon Securities Limited, as the lead agent and sole bookrunner, with a syndicate of agents including Haywood Securities Inc. acting on a “best efforts” basis.

The Private Placement was the first to utilize the new listed issuance financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemption. The securities issued to purchasers in reliance on this prospectus exemption are not subject to a hold period pursuant to applicable Canadian securities laws. In connection with this exemption, NevGold filed the first Form 45-106F19 offering document, which provides a short description of the business of NevGold and the terms of the Private Placement.

NevGold is a mineral exploration and development company targeting large-scale mineral systems in the districts of Nevada, Idaho, and British Columbia. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Ptarmigan silver-polymetallic project in Southeast BC, and has an option to acquire 100% of the Nutmeg Mountain gold project in Idaho.

Further details regarding NevGold and the financing can be found on NevGold’s website. NevGold trades under the symbol “NAU” on the TSX Venture Exchange.