Bravada Gold Corporation (TSX-V: BVA) (FSE: BRTN) (OTCQB: BGAVF) reports that the Company has now closed the final tranche of its previously reported non-brokered private placement by issuing 182,000 units at a price of $0.07 per unit for gross proceeds of $12,740. In total, the Company has now closed 7,199,143 units in three tranches for total gross proceeds of $503,940.01. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share. Securities issued pursuant to this final tranche of the private placement, including common shares and share purchase warrants carry a legend restricting trading of the securities until February 26, 2022. Finders’ fees and commissions may be paid by the Company in relation to the units sold in this Offering. The private placement is subject to regulatory approval.
Net proceeds from the private placement will be used for continued exploration on the Company’s 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company’s Nevada-based claims, and for working capital.
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, frequently 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 signed 32 earn-in joint-venture agreements for its properties with 19 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
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We acknowledge the [financial] support of the Government of Canada.