Bravada Announces Private Placement and Acquisition of New Gold Project in Nevada
Bravada Announces Private Placement and
Acquisition of New Gold Project in Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) -
Bravada Gold Corporation (TSXV:
BVA) (OTCQB: BGAVF) (FSE: BRTN)
("Bravada" or the "Company") announces that it will undertake
a non-brokered private placement consisting of up to 10,000,000 units ("Units") at a price of $0.035 per
Unit for gross proceeds of $350,000 (the "Offering").
Each Unit consists of one common share and one
share purchase warrant, with each warrant exercisable to purchase one additional common share for a
period of three years at an exercise price of $0.05 per share. The Company will make provision for an
over-allotment option (Greenshoe) to allow a purchase of up to 10% additional Units beyond the number
of Units in this private placement.
Based on successfully completing the Offering, net proceeds from the private placement are proposed
to be spent on exploration and land costs, including the exploration program outlined below
(approximately 60%, with 4% thereof payable to non-arm's length parties), and general working capital
(approximately 40%, with 6% thereof payable to non-arm's length parties). No amounts are proposed to
be spent on investor relations activities.
The Company proposes to conduct a Phase 1 program to explore and develop drill targets on a new
low-sulfidation gold and silver property, named the East Walker project, located in an actively explored
portion of the Walker Lane Gold trend in western Nevada. The project was acquired by staking claims on
open Federal ground. Phase 1 consists of:
Compiling historic assays and limited drill data,
Integrate historic data with detailed geologic mapping,
Sample potential mineralized structures for assay, and
Define initial geophysical surveys.
Recently, several new discoveries and major extensions of known high-grade gold/silver deposits have
been announced with similar geologic settings as identified on East Walker project. Work to date by the
Company has identified significant "leakage" anomalies of gold and pathfinder elements at the currently
exposed "paleosurface-level" of the large, metal-bearing hydrothermal system, indicating that high-grade
mineralization was not tested beneath shallow historic drill holes.
The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with
the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued
and sold under the Offering will be subject to a hold period expiring four months and one day from their
date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the
approval of the TSX Venture Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor
was there any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The
Units offered will not be, and have not been, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States or to, or for the account or benefit
of, a U.S. person.
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. Bravada has successfully identified and advanced properties with the
potential to host high-margin deposits while successfully attracting partners to fund later stages of project
development. Bravada's value is underpinned by a substantial gold and silver resource with a positive
PEA at Wind Mountain, and the Company has significant upside potential from possible new
discoveries at its exploration properties.
Since 2005, the Company has signed 33 earn-in joint-venture agreements for its properties with 20
publicly traded companies, as well as a similar number of property-acquisition agreements with private
individuals. Bravada currently has 11 projects in its portfolio, consisting of 860 claims for approximately
7,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill
intercepts of gold and already have drill targets developed.
Several videos are available on the Company's website that describe Bravada's major properties,
answering commonly asked investor questions. Simply click on this link
https://bravadagold.com/projects/project-videos/
.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and
preparing the technical data presented in this release and has approved its disclosure.
On behalf of the Board of Directors
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at
bravadagold.com
; or contact
us at 604.641.2759 or by email at
.
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 in this news
release include closing the Offering and completing the Phase I exploration program. 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.
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