08:50 AM EDT, 05/27/2025 (MT Newswires) -- NevGold ( NAUFF ) on Tuesday increased the size of its previously announced $5.5 million best-efforts marketed private placement to $6 million.

The offering will now consist of up to 20 million units at $0.30 apiece. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to buy one common share at an exercise price of $0.45 for 24 months following the completion of the offering.

NevGold ( NAUFF ) intends to use proceeds of the offering for advancing its Limousine Butte gold-antimony project in Nevada, Nutmeg Mountain gold project in Idaho, working capital and general corporate purposes. Closing of the offering is expected to occur on or about May 29.

Shares of the company closed down 1.7% to $0.285 on Monday on the TSX Venture Exchange.