NevGold Announces Shares-For-Debt Agreements

Vancouver, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has entered into two debt settlement agreements dated September 21, 2023 to settle outstanding debt in the amount of C$169,580 (the “Debt”) owing to two arm’s-length creditors, by issuing an aggregate of 403,761 common shares in the capital of the Company (the “Common Shares”) at a price of $0.42 per Common Share (the “Shares-for-Debt Transaction”), reflecting a plus 50% premium to the current NevGold share price, to the creditors. The NevGold Board of Directors has determined that it is in the best interests of the Company to settle the outstanding Debt by the issuance of Common Shares at a significant premium to market in order to preserve the Company’s cash for ongoing operations.

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