NV Gold Announces Shares for Debt Transaction
NV Gold (TSXV:NVX)(OTCQB:NVGLF) has announced a shares for debt transaction to settle outstanding loans totaling US$419,050 (C$580,677.58) through the issuance of 5,161,578 common shares at C$0.1125 per share. The debt settlement involves loans made between June 2023 and January 2025 by John Watson, the company's President, Chairman, CEO and director.
The transaction is classified as a 'related party transaction' under MI 61-101, but is exempt from formal valuation and minority approval requirements due to the company's serious financial difficulties. The settlement shares will be subject to a four-month statutory hold period and requires TSX Venture Exchange approval. Interest accrued on the debt remains outstanding.
NV Gold (TSXV:NVX)(OTCQB:NVGLF) ha annunciato una transazione di azioni in cambio di debito per saldare prestiti in sospeso per un totale di US$419.050 (C$580.677,58) attraverso l’emissione di 5.161.578 azioni ordinarie a C$0,1125 per azione. Il saldo del debito riguarda prestiti effettuati tra giugno 2023 e gennaio 2025 da John Watson, Presidente, Presidente del Consiglio, CEO e direttore della società.
La transazione è classificata come una 'operazione con parti correlate' ai sensi del MI 61-101, ma è esente dai requisiti formali di valutazione e approvazione delle minoranze a causa delle gravi difficoltà finanziarie dell’azienda. Le azioni di regolamento saranno soggette a un periodo di blocco legale di quattro mesi e necessitano dell’approvazione della TSX Venture Exchange. Gli interessi maturati sul debito restano ancora dovuti.
NV Gold (TSXV:NVX)(OTCQB:NVGLF) ha anunciado una transacción de acciones por deuda para saldar préstamos pendientes que suman US$419,050 (C$580,677.58) mediante la emisión de 5,161,578 acciones comunes a C$0.1125 por acción. La liquidación de la deuda corresponde a préstamos realizados entre junio de 2023 y enero de 2025 por John Watson, presidente, presidente del consejo, CEO y director de la compañía.
La transacción se clasifica como una 'operación con partes relacionadas' según MI 61-101, pero está exenta de los requisitos formales de valoración y aprobación de minorías debido a las graves dificultades financieras de la empresa. Las acciones de liquidación estarán sujetas a un período de retención legal de cuatro meses y requieren la aprobación de la TSX Venture Exchange. Los intereses acumulados sobre la deuda siguen pendientes.
NV Gold (TSXV:NVX)(OTCQB:NVGLF)는 총 미화 419,050달러 (캐나다 달러 580,677.58달러)에 달하는 미지급 대출금을 5,161,578주의 보통주를 주당 캐나다 달러 0.1125에 발행하여 상환하는 주식 대 채무 거래를 발표했습니다. 이 채무 상환은 2023년 6월부터 2025년 1월 사이에 회사의 사장, 회장, CEO 및 이사인 John Watson이 제공한 대출에 관한 것입니다.
이 거래는 MI 61-101에 따른 '관계자 거래'로 분류되지만, 회사의 심각한 재정적 어려움으로 인해 공식 평가 및 소수 주주 승인 요건에서 면제됩니다. 상환 주식은 4개월의 법정 보유 기간이 적용되며 TSX 벤처 거래소의 승인이 필요합니다. 대출에 발생한 이자는 여전히 미지급 상태입니다.
NV Gold (TSXV:NVX)(OTCQB:NVGLF) a annoncé une opération d’échange d’actions contre dette afin de régler des prêts en cours totalisant 419 050 USD (580 677,58 CAD) par l’émission de 5 161 578 actions ordinaires au prix de 0,1125 CAD par action. Le règlement de la dette concerne des prêts accordés entre juin 2023 et janvier 2025 par John Watson, président, président du conseil, directeur général et administrateur de la société.
Cette opération est classée comme une « transaction avec une partie liée » selon le MI 61-101, mais est exemptée des exigences formelles d’évaluation et d’approbation des minoritaires en raison des graves difficultés financières de l’entreprise. Les actions de règlement seront soumises à une période de blocage légale de quatre mois et nécessitent l’approbation de la TSX Venture Exchange. Les intérêts accumulés sur la dette restent dus.
NV Gold (TSXV:NVX)(OTCQB:NVGLF) hat eine Aktien-gegen-Schulden-Transaktion angekündigt, um ausstehende Darlehen in Höhe von 419.050 US-Dollar (580.677,58 CAD) durch die Ausgabe von 5.161.578 Stammaktien zu je 0,1125 CAD pro Aktie zu begleichen. Die Schuldenregulierung betrifft Darlehen, die zwischen Juni 2023 und Januar 2025 von John Watson, dem Präsidenten, Vorsitzenden, CEO und Direktor des Unternehmens, gewährt wurden.
Die Transaktion wird gemäß MI 61-101 als 'Transaktion mit verbundenen Parteien' eingestuft, ist jedoch aufgrund der ernsthaften finanziellen Schwierigkeiten des Unternehmens von den formellen Bewertungs- und Minderheitenzustimmungsanforderungen befreit. Die Abwicklungsaktien unterliegen einer viermonatigen gesetzlichen Haltefrist und bedürfen der Genehmigung der TSX Venture Exchange. Aufgelaufene Zinsen auf die Schulden bleiben ausstehend.
- Debt reduction of US$419,050 through share issuance
- No immediate cash outflow required for debt repayment
- Company acknowledged serious financial difficulties
- Significant shareholder dilution through issuance of 5,161,578 new shares
- Interest on debt remains outstanding
- Related party transaction with CEO indicates potential funding challenges
VANCOUVER, BC / ACCESS Newswire / April 21, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company"), announces that the Company has agreed to issue an aggregate of 5,161,578 common shares of the Company (the "Settlement Shares") at a price of C
The Debt Settlement will be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(b) of MI 61-101 as the Company is not listed on a specified market within the meaning of MI 61-101. Additionally, the Debt Settlement is exempt from the minority approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(e) of MI 61-101 as (i) the Company is in a situation of serious financial difficulty, (ii) the Debt Settlement is designed to improve the financial position of the Company, (iii) the circumstances described in Section 5.5(f) of MI 61-101 are not applicable, (iv) the Company's board of directors and independent directors (as such term is defined in MI 61-101) had, acting in good faith, determined that the Company is in serious financial difficulty and the Debt Settlement would improve its financial position, and the terms of the Debt Settlement are reasonable in the circumstances of the Company, and (v) there was no other requirement, corporate or otherwise, to hold a meeting to obtain any approval of the Company's shareholders.
The Debt Settlement is subject to TSX Venture Exchange approval. The Settlement Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.
About NV Gold Corporation
NV Gold Corporation is a well-organized exploration company that currently has ~10 million shares issued and Outstanding. NV Gold has 21 exploration projects in Nevada comprising 639
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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the Debt Settlement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will receive the necessary regulatory approval for the Debt Settlement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approval for the Debt Settlement.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE: NV Gold Corporation
View the original press release on ACCESS Newswire
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