NevGold upsizes private placement to C$42.2M; Clarus bookrunner

NevGold announced that, due to strong investor demand, it has agreed with Clarus Securities as sole agent and bookrunner to increase its previously announced C$25,000,010 “best efforts” private placement to aggregate gross proceeds of up to C$42,225,497.40, by selling up to 22,223,946 common shares at C$1.90 per share.

Under the upsized terms the offering remains a best-efforts private placement and is expected to close on or about May 12, 2026, subject to regulatory approvals including the TSX Venture Exchange. The securities will not be registered under the U.S. Securities Act and will not be offered or sold in the United States absent registration or an applicable exemption; issued common shares will be subject to a four-month-and-one-day hold period.

The company stated net proceeds will be used to advance the Limousine Butte gold-antimony project in Nevada and the Nutmeg Mountain gold project in Idaho, as well as for working capital and general corporate purposes. NevGold’s recent financing activity and partnership with Clarus reflect management’s intent to secure capital to progress exploration and development milestones.

The financing announcement comes amid heightened focus on critical mineral supply chains and U.S. policy support for domestic critical mineral projects; NevGold has previously highlighted the strategic importance of developing domestic sources of antimony and gold as part of that broader context. Investors and stakeholders have watched the company’s project updates and financing track record as indicators of near-term operational progress.

Next steps for the transaction include obtaining all necessary regulatory and other approvals and completing the closing. Key items for market participants to monitor are formal TSXV approval, final allocation of the placement, and the timing of proceeds deployment to project activities. NevGold’s management has signalled that, once approvals are in place, capital will be directed to advance drilling, permitting and other project development work.