(BVA.V) May 24, 2019 – Bravada Gold Corporation has received approval from the TSX Venture Exchange for a 30-day extension to close the final tranche of the previously announced non-brokered private placement.
The company announced on May 13 that it has closed a first tranche of the private placement by issuing 8.105 million units for gross proceeds of $567,350.
The offering, which was initially announced on Apr. 15, consists of up to 10 million units at a price of $0.07 per unit to raise $700,000, with a Greenshoe over-allotment option to increase the offering by up to 10 percent. Each unit consists of one share of common stock of the company and one share-purchase warrant, with each warrant exercisable to acquire an additional share of common stock of the company at a price of $0.12 per share for a period of four years.
Securities issued pursuant to the private placement, including common shares and share purchase warrants, carry a legend restricting trading of the securities for a period of four months and a day on closing. Finders’ fees and commissions may be paid by the company in relation to the units sold in this offering.
Bravada Gold is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. The company has successfully identified and advanced properties that have the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. With the addition of OceanaGold’s option of Highland, four of Bravada’s eleven Nevada properties are being funded by partners.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.