Bravo Announces Completion of Private Placement for C$5.27 Million
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Bravo Announces Completion of Private Placement for C$5.27 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, June 15, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF) (“ Bravo” or the “Company”)
announces that i t has closed the previously announced private placement offering (the “ Concurrent Private
Placement”) of common shares of the Company (the “Common Shares”) . Pursuant to the Concurrent Private
Placement, the Company has issued 1,504,992 Common Shares at a price of C$3.50 per Common Share for gross
proceeds of C$5,267,472. Along with the completion of the public offering, which included the full exercise of the
Agents’ (as defined below) over-allotment option (the “Public Offering”), which was previously announced in the
Company’s news release dated June 8, 2023, the aggregate gross proceeds of the Public Offering and Concurrent
Private Placement together are C$25,034,306.50. Following the Public Offering and the Concurrent Private
Placement, the Company’s issued and outstanding Common Shares total 108,152,660.
The Public Offering and Concurrent Private Placement were co -led by Canaccord Genuity Corp., National Bank
Financial Inc. and BMO Capital Markets on behalf of a syndicate that included Cormark Securities Inc. and
Raymond James Ltd. (collectively, the “Agents”). Cozen O'Connor LLP acted as legal counsel to Bravo and Cassels
Brock & Blackwell LLP acted as legal counsel to the Agents.
“I am pleased with the outcome of our public offering and concurrent private placement and on behalf of Bravo’s
team, I would like to than k all parties involved as well as the support received from both existing and new
shareholders”, said Luis Azevedo, Chairman and CEO of Bravo. “The funds were raised at a premium of 100% from
the IPO price in July 2022 and with limited dilution to existing shareholders, which underscores the recognition of
the steady progress thus far we have made in advancing and unlocking the potential of our Luanga Project”.
In connection with the Concurrent Private Placement, the Company has paid the Agents a cash commission in the
aggregate amount of C$181,693 equal to 5.0% of the gross proceeds of the Concurrent Private Placement, other
than in respect of sales to certain purchasers on the president’s list in which case the cash commission was
reduced to 2.5%.
The Common Shares issued pursuant to the Concurrent Private Placement are subject to resale restrictions under
applicable Canadian securities legislation until October 16, 2023.
The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements under the U.S. Securities Act and applicable state
securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Bravo Mining Corp.
Bravo is a Canada and Brazil -based mineral exploration and development company focused on advancing its
Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity
to existing infrastructure, including road, rail and clean and renewable h ydro grid power. The project area was
previously de -forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance
activities includes replanting trees in the project area, hiring and contracting locally, engagement with local
communities, and ensuring protection of the environment during its exploration activities.
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For further information about Bravo, please visit www.bravomining.com or contact:
Alex Penha
EVP Corporate Development
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this Press release.