VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/29/15 -- Bravada Gold Corporation (TSX VENTURE: BVA) (FRANKFURT: BRT) (the "Company" or "Bravada") has extended the final tranche of its previously announced non-brokered private placement (the "Offering") for 30 days to November 4, 2015 in order to allow existing shareholders to participate. The previously announced non-brokered offering consists of 6,666,667 units of the Company ("Units") at a price of CDN$0.03 per Unit to raise $200,000. Each Unit consists of one common share without par value in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Share at a price of CDN$0.05 per Share for 5 years. Bravada announced the closing of the first tranche of this financing on September 15 (NR-07-15), issuing 4,524,998 units for a total of CDN$135,750.
As described in detail in NR-06-15, dated August 21, 2015, the Offering was made in accordance with the provisions of BC Instrument 45-534 - Exemption from prospectus requirement for certain trades to existing security holders and in accordance with the provisions of various corresponding blanket orders and rules of other Canadian jurisdictions that have adopted the same or a similar exemption from prospectus requirement.
President Joe Kizis commented, We are pleased that existing shareholders have subscribed for shares in sufficient quantities to provide funds for our Company to meet current sustaining fees on its Nevada based properties. Extension of the offering will provide an opportunity to shareholders to participate at attractive terms in the Unit equity raise as we continue to develop our Nevada based properties through joint venture agreements. The Company holds a portfolio of high-quality properties in Nevada, one of the world's best mining jurisdictions. Bravada has attracted partners to fund exploration and development on five of its 15 Nevada properties, and expects to attract new partners for several others over the next few months. Bravada's Wind Mountain project, for example, hosts significant Indicated and Inferred resources of gold and silver, and has exciting potential for new discoveries. The five currently partner-funded projects in aggregate include earn-in work expenditures of up to $6.5 million and payments to Bravada of up to $3+ million as cash and shares, with Bravada retaining residual working or royalty interests."
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis, Jr., Director, President, Bravada Gold 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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Contacts:
Bravada Gold Corporation
Joseph A. Kizis, Jr.
Director, President
604.684.9384 or 775.746.3780
www.bravadagold.com
