Viva GOLD Corp Closes Private Placement
NR 20-3
VIVA GOLD CORP CLOSES PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
VANCOUVER, BC – February 21, 2020 – Viva Gold Corp. (TSX-Venture: VAU; OTCBB:
VAUCF) (the “Company” or “Viva”) is pleased to announce that it has closed the second and final tranche
of the non-brokered Private Placement (the "Offering") announced December 5, 2019. In connection with
the closing of the second tranche, the Company issued 931,000 Units (the "Units") at a price of CDN $0.24
per Unit for gross proceeds of CDN $223,440. In total, the Offering was oversubscribed, and the Company
issued 2,938,480 Units in both tranches of the Offering for gross proceeds of CDN $705,235.
Each Unit consists of one common share in the capital of the Company (a “Share”) and one whole
transferable common share purchase warrant (each whole common share purchase warrant, a “Warrant”).
Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.34 per Share.
Warrants issued in the first tranche are exercisable until December 23, 2021 and those Warrants issued in
the second tranche are exercisable until February 20, 2022, both of which are 24 months from the date of
issuance. Sixteen placees subscribed to the Offering in the second tranche, with a total of 30 placees
subscribing in both tranches of the Offering.
The proceeds of the Offering will be utilized to complete a Preliminary Economic Assessment and technical
work at the Issuer's Tonopah Property, and for general working capital purposes.
The Company will pay aggregate finder’s fees on the second tranche of CDN $13,440 in connection with
subscriptions introduced to the Offering by Canaccord Genuity Corp and Leede Jones Gable.
The securities issued under the Offering, and any Shares that may be issuable on exercise of any such
securities, will be subject to a statutory hold period expiring four months and one day from the date of
issuance of such securities.
Option Issuance and Filing of Year End Results
Viva Gold is pleased to advise that it has filed year-end results for the Fiscal year ended October 31, 2019
under its profile on SEDAR. The Company has also issued a total of 548,500 Stock Options at an exercise
price of $0.24 for a period of three years.
About Viva:
Viva Gold is a gold exploration and development company with a focus on Nevada. Viva holds 100% of
the Tonopah Gold Project, a large land position with significant exploration potential and demonstrated
measured, indicated and inferred gold resources. The property is located on the prolific Walker Lane Trend
in Nevada, 50 kilometers south-east of the Round Mountain mine of Kinross Gold and 30 kilometers from
the Town of Tonopah. Viva’s management team has extensive experience in mining exploration ,
development and production and are supported by a Board of Directors and advisors who are proven mine
finders, deal makers and financiers. Viva trades on the TSX-V as “VAU”, on the OTCBB in the US as
“VAUCF” and on the Frankfurt exchange under “7PB”. For additional information on Viva Gold and the
Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Valerie Kimball, Director Investor Relations
(720) 933-1150
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
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. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information:
Certain information contained in this news release constitutes “forward-looking information” or “forward-
looking statements” (collectively, “forward- looking information”). Without limiting the foregoing, such
forward-looking information includes statements regarding the process and completion of the Offering, the
use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations
and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”,
“expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are
used to identify forward-looking information. Forward looking information should not be read as
guarantees of future performance or results, and will not necessarily be accurate indications of whether, or
the times at or by which, such future performance will be achieved. Forward-looking information is based
on information available at the time and/or the Company management’s good faith belief with respect to
future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond the Company’s control. For additional information with respect to these
and other factors and assumptions underlying the forward-looking information made in this news release,
see the Company’s most recent Management’s Discussion and Analysis and financial statements and other
documents filed by the Company with the Canadian securities commissions and the discussion of risk
factors set out therein. Such documents are available at www.sedar.com under the Company’s profile and
on the Company’s website, www.vivagoldcorp.com. The forward-looking information set forth herein
reflects the Company’s expectations as at the date of this news release and is subject to change after such
date. The Company disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, other than as required by
law.