Van Hoof Industrial Holdings (VHIH), a private company controlled by Mr. Hans van Hoof, the Chairman and CEO of NSGold Corporation (NSX – $0.58) has acquired an additional 700,000 shares of NSGold through the exercise of warrants.
The warrants, which were acquired mid-2010 in the original private placement, were exercised at C$0.50 per share, meaning NSGold added C$350,000 to its cash balance.
In total, VHIH now owns over 10.8 million shares, or about 33.12% of the 32,712,277 issued and outstanding common shares of NSGold. At today’s stock price this position is worth about C$6.2 million.
See this is again why I like NSGold. Next to its strong upward potential with its gold and silver properties, the Company’s management is in for the long run. They haven’t sold a share yet, although they’ve already doubled their money. Even to the contrary, Mr. van Hoof has just increased his position with another 700,000 shares.
And I know that every CEO defends his or her Company, but not all of them are willing to put over C$6 million on the line.