NV Gold (TSE:NVX) has released an update.
NV Gold Corporation has announced the extension of two US$100,000 loans from CEO John Watson with the new maturity date set for July 10, 2025, unless earlier repayment is demanded by the Lender. These loans are secured by a pledge of all shares of NV Gold’s wholly-owned subsidiary, NV Gold USA, which holds the company’s U.S. mineral projects and lease agreements. The transaction is regarded as a ‘related party transaction’, but complies with regulatory exemptions ensuring no disadvantage to the company compared to arm’s length financing.
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