Bravo Mining Corp. Announces Pricing of Initial Public Offering and Files Final Prospectus
Bravo Mining Corp. Announces Pricing of
Initial Public Offering and Files Final
Prospectus
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES
./
VANCOUVER, BC
,
July 18, 2022
/CNW/ - Bravo Mining Corp. ("
Bravo
" or the "
Company
") is
pleased to announce that it has obtained a receipt for its final prospectus (the "
Prospectus
") filed
with the securities regulatory authorities in each of the provinces of
Canada
, other than Québec, for
an initial public offering (the "
Offering
") of 23,000,000 common shares of the Company ("
Shares
")
at a price of
$1.75
per Share (the "
Offering Price
") for gross proceeds of
$40,250,000
.
Canaccord Genuity Corp. and BMO Capital Markets are acting as co-lead agents for the Offering
on behalf of a syndicate that includes National Bank Financial Inc., Cormark Securities Inc. and
INFOR Financial Inc.
Bravo has granted the agents an over-allotment option (the "
Over-Allotment Option
"), exercisable
in whole or in part, at the sole discretion of the agents, at any time on and for a period of 30 days
following the Closing Date (as defined below), to sell up to 3,450,000 additional common shares of
the Company (representing 15% of the aggregate number of Shares sold pursuant to the Offering)
at the Offering Price, for additional gross proceeds to the Company of
$6,037,500
if the Over-
Allotment Option is exercised in full.
The closing of the Offering is expected to occur on or about
July 21, 2022
(the "
Closing Date
") and
is subject to customary closing conditions, including the receipt of all necessary regulatory
approvals. Bravo has received conditional approval to list the Shares, including Shares issued and
sold pursuant to the Offering, on the TSX Venture Exchange (the "
TSXV
") under the symbol
"BRVO". Listing remains subject to Bravo fulfilling all of the listing requirements of the TSXV.
The net proceeds of the Offering will be used for exploration and development expenses on Bravo's
Luanga Project, to make certain payments under the option agreement entered into by Bravo with
respect to the Luanga Project, and for general administrative expenses and working capital, as more
particularly set out in the Prospectus. A copy of the Prospectus is available under Bravo's profile on
SEDAR at
www.sedar.com
.
The Shares have not been and will not be registered under the United States Securities Act of 1933,
as amended (the "
U.S. Securities Act
"), or any state securities laws, and may not be offered or
sold, within
United States
, unless exemptions from the registration requirements of the U.S.
Securities Act and applicable state securities laws are available.
No securities regulatory authority has reviewed or approved of the contents of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
securities of Bravo in any jurisdiction in which such offer, solicitation or sale would be unlawful.
All figures are in Canadian dollars unless otherwise stated.
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 hydro 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, and ensuring protection of the environment during its exploration activities.
Bravo was founded by a management team and board with extensive Brazilian and PGM
exploration, permitting, project financing, construction and operating experience. This includes
Luis
Azevedo
, Executive Chairman & CEO;
Simon Mottram
, President;
Alex Penha
, EVP Corporate
Development; and Independent Directors, Dr.
Nicole Adshead-Bell
(Lead Director),
Stuart Comline
,
Tony Polglase
and
Stephen Quin
.
Forward-Looking Statements
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "ensuring",
"believe", "commitment", "will" and other similar words, or statements that certain events or
conditions "may" or "will" occur.
In particular, this news release contains forward-looking
information pertaining to the completion of the Offering, the listing of the Shares on the TSXV and
the receipt of necessary regulatory approvals, the proceeds to be raised pursuant to the Offering,
the exercise of the Over–Allotment Option, the use of proceeds from the Offering, and the
Company's plans and objectives with respect to the Luanga Project. Forward-looking information
involves risks, uncertainties and other factors that could cause actual events, results, and
opportunities to differ materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to, changes in the state of equity and debt markets,
fluctuations in commodity prices, delays in obtaining required regulatory or governmental
approvals, environmental risks, limitations on insurance coverage, failure to satisfy closing
conditions in respect of the Offering, failure to obtain all necessary regulatory approvals, risks
related to the ongoing COVID-19 pandemic and its impact on the Company, risks and uncertainties
inherent in the exploration and development of mineral properties, and other risk factors set forth
in the Prospectus under the heading "Risk Factors". Forward-looking information in this news
release is based on the opinions and assumptions of management considered reasonable as of
the date hereof, including, but not limited to, the assumption that all conditions precedent to the
completion of the Offering (including the receipt of all requisite regulatory approvals) will be
satisfied in a timely manner; that the Company will receive approval to list the Shares on the
TSXV; and general business and economic conditions will not change in a materially adverse
manner. Although the Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance should not be
placed on such information. The Company disclaims any intention or obligation to update or revise
any forward-looking information, other than as required by applicable securities laws.
SOURCE
Bravo Mining Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2022/18/c2655.html
%SEDAR: 00054599E
For further information:
Alex Penha, EVP Corporate Development, [email protected]
CO: Bravo Mining Corp.
CNW 06:39e 18-JUL-22