Mineral exploration company NSGold Corporation (TSXV: NSX) has completed a private placement of 8,627,451 common shares at a price of $0.51 per common share, for gross proceeds of $4.4 million. NSGold Corporation will use the net proceeds from the private placement for working capital and for funding of its new subsidiary, NSX Silver Inc.
Sprott Asset Management LP, acting on behalf of certain Sprott funds and managed accounts, subscribed for all of the 8,627,451 shares in the private placement, representing 19.9% of the shares of NSGold Corporation issued and outstanding after the private placement.
Euro Pacific Canada Inc. acted as agent for the private placement and was advised by a team of Fasken Martineau lawyers that included, among others, Krisztián Tóth, Alex Nikolic and Kelly McDonough.