Bravada Announces Equity Financing
Bravada Announces Equity Financing
Vancouver, British Columbia--(Newsfile Corp. - July 6, 2018) -
Bravada Gold Corporation
(TSXV: BVA) (OTCQB: BGAVF)
(FSE: BRTN) (the "Company" or "Bravada") plans to issue up to 6,000,000 units ("Units") in a non-brokered private placement
at a price of $0.08 per Unit to raise $480,000. Each Unit will consist of one common share and one share purchase warrant, with
each warrant exercisable to purchase one additional common share for a period of four years at an exercise price of $0.12 per
share. The Company has arranged for an initial subscription for 2.175 million units from Phenom Ventures LLC.
Net proceeds from the private placement will be used for property maintenance fees, permitting fees and associated ancillary
costs as well as accounts payable and for working capital. Bravada will make a provision for an over-allotment option
(Greenshoe) to allow a purchase of up to 10% additional units beyond the number of units in this Offering. Finders' fees and
commissions may be paid by the Company in relation to the units sold in this Offering.
President Joe Kizis commented,
"Bravada
is
in an enviable position of
maintaining a portfolio of
high-quality
exploration/development projects in Nevada while interest in
the region is at a very high level
.
Currently eleven mining and
exploration companies
based in five countries
are reviewing data for the Company's eight projects that are still available for
joint venture
.
Bravada's value is underpinned by a significant gold and silver resource
with
a
positive PEA at Wind Mountain and has
significant upside potential
from possible
new discoveries
at
its exploration properties, most of which host significant drill
intercepts of gold and which have drill targets
developed
by the Company
. Permitting
to drill test those targets
has been
completed
at Wind Mountain and
, subject to posting of bonds, at Quito, SF, and East Manhattan
."
About Bravada
Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in
the world. During the past 12 years 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. Currently, three of
Bravada's eleven Nevada properties are being funded by partners. As well, there are no NSR-type royalties to vendors that
cannot be significantly reduced.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at
bravadagold.com
.
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.
This news release is intended for distribution in Canada only and is not intended for distribution to United States
newswire services or dissemination in the United States.