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NeXGold Mining Corp V.NEXG

Alternate Symbol(s):  NXGCF

NexGold Mining Corp. is a gold-focused company with assets in Canada and Alaska. Its Goliath Project, which includes the Goliath, Goldlund, and Miller deposits, is located in Northwestern Ontario. The Goliath Gold Complex refers to a prospective 65 kilometers (km) trend in approximately 330 square kilometers (km2) land package comprised of three distinct projects located within the Wabigoon-Greenstone belt in the Dryden-Sioux Lookout Area of northwestern Ontario. It also owns several other projects throughout Canada, including the Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. In addition, It holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver volcanogenic massive sulfide ore (VMS) project, located adjacent to tidewater in southeast Alaska. The Gold Rock Property is located 38 km south of Dryden, Ontario. Its has 100% interest in five properties: Texas Creek, Cantoo, Mineral Hill, Rooster and Casey, totaling 7,920 ha.


TSXV:NEXG - Post by User

Post by MarketMakersson Nov 07, 2024 5:56pm
70 Views
Post# 36302069

Closure of $18.5M Concurrent Financing!

Closure of $18.5M Concurrent Financing!

NexGold Mining (NEXG.v NXGCF) and Signal Gold Raise $18.5M in Concurrent Financing Prior to Merger

 

Yesterday, NexGold Mining (NEXG.v NXGCF) and Signal Gold announced the closure of their upsized concurrent financing for $18.5M!

 

This financing supports their proposed merger, where NexGold will acquire Signal, advancing NexGold’s Goliath Gold Complex in Ontario and Signal’s Goldboro Project in Nova Scotia, with the funds supoorting the exploration and advancement of both projects.

 

Notably, key investor Sprott Asset Management acquired 2.5 million FT Units, increasing its stake in NEXG to 11.43% non-diluted and 14.95% partially diluted.

 

Creating One of Canada's Most Advanced Near-Term Gold Developers

Notably, the merger is set to create one of Canada's most advanced near-term gold developers, with a combined total of 4.7 million gold ounces in Measured and Indicated Mineral Resources and 1.3 million gold ounces in Inferred Mineral Resources.

 

With two environmental assessment approvals in place and permitted expected to be completed by 2025, the company is targeting over 200,000 ounces of gold production per year and has significant growth potential at both projects across a combined 60,000 hectares of land with potential for further discoveries along strike, at depth and through new discoveries.

 

Creating a strong gold development company with a focus on growth, operational efficiency, and resource expansion, this merger positions the company strongly as a potential mid-tier gold producer in Canada.

 

Full News Release: https://nexgold.com/nexgold-and-signal-gold-complete-upsized-concurrent-financing-for-18-5-million/

 

Posted on Behalf of NexGold Mining Corp.

 

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