07:39 AM EDT, 03/12/2024 (MT Newswires) -- NevGold Corp. ( NAUFF ) said overnight Monday that it has closed the issuance of 421,875 shares to settle $135,000 in debt owed to an arm's-length creditor.

The shares were priced at $0.32 apiece. NevGold's ( NAUFF ) board said it was in the company's best interests to settle debt in shares to preserve its cash for ongoing operations.

TSXV has approved the transaction.

NevGold ( NAUFF ) owns the Limousine Butte and Cedar Wash gold projects in Nevada, as well as the Nutmeg Mountain gold project in Idaho.

NevGold ( NAUFF ) lost 3.1% yesterday.