Gilby Plaines Ltd. Acquires Additional Shares of NSGold Corporation
Tortola, BVI (FSCwire) - Gilby Plaines Ltd. (“Gilby Plaines”) of Tortola, British Virgin Islands has purchased 300,000 units of NSGold Corporation (NSX:TSXV) (“NSGold”) at a price of $0.10 per unit by way of private placement, for an amount of $30,000. The foregoing common shares represent in the aggregate 2.39% of the issued and outstanding common shares of NSGold. Each unit is comprised of one common share of NSGold and one half of a common share purchase warrant. Each common share purchase warrant (collectively, the “Warrants”) entitles the holder to acquire one additional common share of NSGold at a price of $0.15 until June 2, 2018. The Common Shares and Warrants were issued by NSGold in reliance upon Section 1.1(m) of the accredited investor exemption contained in Section 2.3 of National Instrument 45-106 - Prospectus Exemptions.
Immediately following the closing of the private placement, Gilby Plaines directly and indirectly owns or controls the following NSGold securities: (i) 1,132,500 common shares, representing approximately 9.01% of the issued and outstanding common shares of NSGold, and (ii) common share purchase warrants in respect of 974,000 common shares. Assuming the exercise of all warrants held by Gilby Plaines, it would own 2,106,500 common shares, representing 15.55% of the NSGold common shares that would then be issued and outstanding.
Gilby Plaines is an investment holding company incorporated in the British Virgin Islands. Gilby Plaines acquired the 300,000 common shares and 150,000 Warrants in a private placement for investment purposes, and in accordance with applicable securities laws Gilby Plaines may, from time to time and at any time, acquire additional securities of NSGold (the “Securities”) in the open market or otherwise, and Gilby Plaines reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of NSGold and other relevant factors.
This news release is being issued under the early warning provisions of Canadian provincial securities legislation. Gilby Plaines has filed an early warning report in respect of the acquisition of the shares on SEDAR under NSGold’s company profile.
For further information, please contact either:
Gilby Plaines Ltd (“Gilby Plaines”)
Portcullis TrustNet Chambers
P O Box 3444
British Virgin Islands,
Registration No. 1054382
Chief Financial Officer, NSGold Corporation
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Source: NSGold Corporation (TSX Venture:NSX)
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