Prophecy Announces $400,000 Private Placement
Prophecy Announces $400,000 Private Placement
Vancouver, British Columbia, March 14, 2017 – Prophecy Development Corp.
(“Prophecy” or the “Company”) (TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) announces
that it is undertaking a non-brokered private placement (the “Placement”) involving the
issuance of 100,000 units (each a “Unit”) at a price of $4.00 per Unit. Each Unit will
consist of one Common share in the capital of the Company (a “Share”) and one Share
purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire an additional
Share at a price of $5.00 per Share for a period of five years from the date of issuance.
Company management and directors will subscribe for up to $200,000, being the equivalent
of up to 50,000 Units of the Placement.
The Company expects the Placement to close on or before April 15, 2017 raising total cash
proceeds of $400,000 to be used to develop Prophecy’s mineral projects and for general
working capital purposes.
The Units will be subject to a minimum hold period of four months plus one day from the
date of issue. Finder’s fees may be paid in cash, in certain instances in connection with the
Placement.
The Placement and payment of any finder’s fees are subject to the approval of the TSX and
other customary closing conditions.
About Prophecy
Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock
Exchange that is engaged in developing mining and energy projects in Mongolia , Bolivia
and Canada. Further information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“JOHN LEE”
Executive Chairman
For more information about Prophecy, please contact Investor Relations:
+1.888.513.6286
www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Toronto Stock Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain
words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward -
looking information within the meaning of applicable securities laws. Such forward -looking
statements, which reflect management’s expectations regarding Prophecy’s future growth,
results of operations, performance, business prospects and opportunities, are based on
certain fa ctors and assumptions and involve known and unknown risks and uncertainties
which may cause the actual results, performance, or achievements to be materially different
from future results, performance, or achievements expressed or implied by such forward -
looking statements.
These factors should be considered carefully, and readers should not place undue reliance
on the Prophecy’s forward -looking statements. Prophecy believes that the expectations
reflected in the forward -looking statements contained in th is news release and the
documents incorporated by reference herein are reasonable, but no assurance can be
given that these expectations will prove to be correct. In addition, although Prophecy has
attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward looking statements, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended.
Prophecy undertakes no obligation to release publicly any future revisions to forward -
looking statements to reflect events or circumstances after the date of this news or to reflect
the occurrence of unanticipated events, except as expressly required by law.