NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has launched a best efforts private placement to raise up to CAD$25 million in development capital.
The company plans to issue up to 13,157,900 common shares at CAD$1.90 each, according to a Monday press release. Additionally, the offering could increase through a 15 per cent over-allotment option granted to the agent.
Clarus Securities Inc. is acting as sole agent and bookrunner for the financing. Furthermore, the firm will receive a 6.0 per cent cash commission on gross proceeds.
It will also receive 6.0 per cent in non-transferable compensation options tied to shares sold. Each option allows the holder to buy one share at the issue price for 24 months. NevGold expects the offering to close on or about May 12, 2026.
The company said it will rely on prospectus exemptions to place shares with Canadian investors and select international buyers. Meanwhile, the shares will carry a four-month-and-one-day hold period under securities laws. Chief executive Brandon Bonifacio said the financing attracted strong institutional backing without attaching warrants. Additionally, he indicated the funds will support near-term development goals.
“We have seen positive continued success at Limo Butte and it is clear that we have one of the nearest-term antimony production scenarios being advanced in North America, that also happens to be at-surface and oxide,” said Bonifacio.
“After completion of the financing, we will be in a strong position to continue to execute over the next 12 months.”
He explained the capital will help advance antimony production opportunities at the Limousine Butte project in Nevada.
Read more: NevGold reports more positive drill results as gold-antimony resource estimate nears
Read more: NevGold positions Nevada project for near-term antimony output
NevGold positions Limo Butte as near-term production asset
NevGold also plans to allocate proceeds toward its Nutmeg Mountain gold project in Idaho. In addition, the company will direct funds toward working capital and general corporate needs. The structure of the deal reflects a “best efforts” approach, meaning the agent will not guarantee full subscription. However, Clarus will market the offering to institutional and accredited investors.
The absence of warrants simplifies the capital structure and limits dilution compared to typical junior financings. Consequently, the company retains greater leverage to future price appreciation. NevGold continues to position Limousine Butte as a near-term production asset focused on antimony and gold. Meanwhile, management aims to accelerate project timelines using the new funding.
The company has framed antimony as a strategic metal due to its use in defence and industrial applications. Additionally, tightening global supply has drawn attention to North American projects. Market participants will watch whether NevGold secures the full CAD$25 million target amid volatile resource equities. Furthermore, investor appetite for critical mineral stories remains a key factor.
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