Bravada Closes Oversubscribed Equity Financing
Bravada Closes Oversubscribed Equity Financing
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2018) -
Bravada Gold Corporation
(TSXV: BVA) (OTCQB: BGAVF)
(
FSE
:
BRTN)
(the "Company" or "Bravada") announces that the previously announced $480,000 non-brokered private
placement has been oversubscribed and Bravada will now issue 6,584,000 units ("Units") in a non-brokered private placement
at a price of $0.08 per Unit for gross proceeds of $526,720. 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 four years at an exercise price
of $0.12 per share. Securities issued pursuant to this private placement, including common shares and share purchase
warrants, carry a legend restricting trading of the securities until November 24, 2018.
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. Finders' fees and commissions will be paid by the Company in
relation to the units sold in this Offering.
President Joe Kizis commented,
"This quick, oversold financing demonstrates staunch support for the Company by our
significant shareholders and places Bravada in an enviable position of maintaining
its
portfolio of high-quality
exploration/development projects in Nevada, one of the
world's
most
prolific
and attractive
gold-mining
regions
.
Bravada
owns or controls 1,169 lode mining claims (approximately 9,460 hectares
or
23,380 acres
or 36 square miles
) and
has
developed attractive drill-ready targets
on most of its properties. Permitting
has
been
completed to drill test
those
targets at
Wind Mountain and, subject to posting of bonds, at Quito, SF, and East Manhattan.
Consequently, there is strong interest in
the Company's eight projects that are still available for joint venture."
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. 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.
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.