VANCOUVER, May 17 /CNW/ - Van Hoof Industrial Holdings Ltd. of Tortola,
British Virgin Islands announces that on May 16th, 2011, it acquired ownership of, and control and direction over,
700,000 common shares of NSGold Corporation (TSXV: NSX) at a price of
C$0.50 per share, for total consideration of C$350,000, upon the
exercise by Van Hoof Industrial Holdings Ltd. of 700,000 common share
The 700,000 common shares acquired by Van Hoof Industrial Holdings Ltd.
represent 2.14% of the 32,712,277 common shares of NSGold Corporation
now issued and outstanding.
Following the exercise of the warrants, Van Hoof Industrial Holdings
Ltd. owns and controls 10,833,100 common shares of NSGold Corporation,
representing 33.12% of the 32,712,277 issued and outstanding common
shares of NSGold, and does not own or control any common share purchase
warrants of NSGold Corporation.
Van Hoof Industrial Holdings Ltd. is a private company controlled by
Johannes H.C. van Hoof, Chairman and a director of NSGold Corporation.
Van Hoof Industrial Holdings Ltd. acquired the shares of NSGold
Corporation described herein for investment purposes, and may from time
to time acquire ownership of, or control or direction over, additional
securities of NSGold Corporation for investment purposes.
The 700,000 shares were issued by NSGold Corporation pursuant to the
prospectus exemption set out in section 2.42 of National Instrument
45-106 Prospectus and Registration Exemptions.
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.
SOURCE NSGOLD CORPORATION
For further information:
Johannes H. C. van Hoof
Chairman, Van Hoof Industrial Holdings Ltd.
P.O. Box 146
Road Town, Tortola
British Virgin Islands
Chief Financial Officer, NSGold Corporation