Bravada Closes Previously Announced Private Placement
Bravada Closes Previously Announced Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - December 19, 2023) -
Bravada Gold
Corporation
(TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF)
("Bravada" or "Company") announces that
it has closed the second tranche of its previously-announced non-brokered private placement
("Offering") by issuing 12,441,000 units ("Units") at a price of $0.035 per Unit for gross proceeds of
$435,435. Together with the first tranche, the Company has now issued a total of 16,498,143 Units for
total gross proceeds of $577,435 in 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.
Securities issued pursuant to the second tranche closing carry a legend restricting trading of the
securities until April 19, 2024. No finder's fees were paid in connection with the second and final tranche.
The Offering is subject to TSX Venture Exchange acceptance.
Total funds received from the closing of the Offering are proposed to be spent on exploration and land
costs (approximately 51%) and general working capital (approximately 49%, with 18% payable to non-
arm's length parties). No amounts are proposed to be spent on investor relations activities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States of America. The securities have not been and will not be registered under
the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered
under the 1933 Act and applicable state securities laws, or an exemption from such registration is
available.
2024 Plans
Despite years of major gold production, Nevada continues to produce excellent new gold/silver
discoveries with many in areas previously thought to be completely explored or beneath altered rock that
does not contain anomalous gold concentrations. Subject to further financing, the Company is planning a
2024 exploration program that will include drilling approximately 2,600 metres in 15 holes at the
Highland low-sulfidation-type project. The property consists of 192 Federal lode claims (~1,500
hectares) located within the prolific Walker Lane Gold belt, where large gold/silver discoveries have
been made increasingly beneath "barren" surface alteration. Previous drilling by Bravada on the
Highland property intersected vein zones with high-grade intercepts, confirming the potentially productive
nature of the system. The Company's best hole, H02013, intersected 1.5 meters (m) of 66.9 grams of
gold per ton (g/t) and 397.7g/t silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver (previously
announced, true thicknesses estimated at 65% of the intervals). A thin layer of alluvial gravel covers
much of the property and several targets have been identified that have not been previously tested with
drilling.
Highland is a large property with multiple "hot spots" of high-grade gold at surface. Widespread samples
of float, outcrop, and soils collected at the Big Hammer target, for example, contain anomalous gold and
pathfinder geochemistry, with values ranging from 0.1g/t to 1.0/g/t Au, with a maximum of 15g/t Au.
Minimal erosion indicates undiscovered high-grade vein deposits will be preserved in their entirety.
Additional geologic mapping, soil sampling, and geophysics are also being planned to refine drill targets
on the SF/HC property and the Gabel property, both Carlin-type properties adjacent to new gold
discoveries in the Battle Mountain-Eureka Gold belt. Permitting is anticipated after integration of that
data with drilling later in 2024.
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 10 projects in its portfolio, consisting of 810 claims for approximately
6,500 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 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 TSX Venture Exchange
acceptance of the Offering, 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 not intended for distribution to United States newswire services
or dissemination in the United States
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/191492