On April 20, 2026 in Vancouver, NevGold Corp. announced an upsizing of its previously disclosed private placement, driven by strong investor interest. Under the amended terms agreed with Clarus Securities Inc. acting as sole Agent and bookrunner, the Company has increased the offering from C$25,000,010 to a maximum of C$42,225,497.40. The deal contemplates the sale of up to 22,223,946 common shares at a price of C$1.90 per share.
This news positions NevGold to move more decisively on its prioritized mineral projects while retaining the flexibility associated with a “best efforts” private placement distribution model.
The issuer specified that net proceeds are earmarked to progress the Limousine Butte antimony-gold project in Nevada and the Nutmeg Mountain gold project in Idaho, with remaining funds for working capital and general corporate purposes. NevGold trades under the tickers TSXV:NAU, OTCQX:NAUFF, and Frankfurt:5E50. The Company indicated that the Offering is expected to close on or about May 12, 2026, subject to regulatory approvals including the approval of the TSX Venture Exchange. Shares issued will be subject to a statutory hold period of four months and one day from the closing date.
Table of Contents:
Offering details
The upsized financing is structured as a brokered private placement underwritten on a “best efforts” basis by Clarus Securities Inc., which agreed to act as sole Agent and bookrunner. The mechanics allocate up to 22,223,946 common shares at C$1.90 per share for aggregate gross proceeds up to C$42,225,497.40, reflecting the increased demand since the original announcement. The Company emphasized that the securities have not been and will not be registered under the United States Securities Act of 1933, meaning the Shares cannot be offered or sold in the United States or to U.S. persons absent registration or a qualifying exemption. This release is not an offer for sale in the United States, and any U.S. public offering would require a prospectus with detailed issuer information and financial statements.
Use of proceeds and strategic rationale
NevGold intends to dedicate the raised funds primarily to advancing its higher-priority assets in the western United States. The Company holds a 100% interest in the Limousine Butte (gold-antimony) and Cedar Wash (gold) projects in Nevada and the Nutmeg Mountain (gold) and Zeus (copper) projects in Idaho. Management highlighted that funding will accelerate technical work, permitting, and targeted exploration at Limousine Butte and Nutmeg Mountain, where progress could materially increase project value. In addition to project expenditures, the financing will shore up working capital to support ongoing corporate operations and near-term strategic opportunities.
Regulatory steps and closing expectations
Approvals and timing
The Company noted that the completion of the Offering is conditional on customary regulatory approvals, including the approval of the TSX Venture Exchange and other required clearances. NevGold expects to close the transaction on or about May 12, 2026, subject to these approvals. Following closing, the newly issued common shares will be subject to a hold period of four months plus one day under applicable securities laws. The press release also states that the TSX Venture Exchange and its Regulation Services Provider assume no responsibility for the adequacy or accuracy of the disclosure in this announcement.
Forward-looking statements and risks
The announcement contains forward-looking statements that use terms such as “plan”, “expect”, “intend”, “anticipate” and similar expressions. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including the failure to complete the Offering on anticipated terms, unpredictable market conditions, and the inability to obtain required regulatory approvals. NevGold explicitly cautions readers not to place undue reliance on forward-looking statements, which speak only as of their date. The Company disclaims any obligation to update such statements except as required by law. For further information, contact Brandon Bonifacio, President & CEO, at [email protected] or by phone at 604-337-4997, and visit www.nev-gold.com.
