On August 22, 2024, Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) announced a non-brokered private placement to offer up to 10,000,000 units at a price of $0.035 per unit, with the goal of raising $350,000 in gross proceeds. Each unit consists of one common share and one share purchase warrant, exercisable for three years at an exercise price of $0.05 per share. The company also plans to include an over-allotment option to purchase up to an additional 10% of units beyond the initial offering.
The net proceeds from the private placement will be allocated towards exploration and land costs, with approximately 60% earmarked for the exploration program at the East Walker project in Nevada. The remaining 40% will be allocated to general working capital. The Phase 1 program for the East Walker project includes compiling historic assays, detailed geologic mapping, sampling mineralized structures, and conducting initial geophysical surveys.
The company may pay finders’ fees in connection with the private placement, subject to compliance with the policies of the TSX Venture Exchange. All securities issued under the offering will be subject to a hold period expiring four months and one day from the date of issuance. The completion of the offering is contingent upon approval from the TSX Venture Exchange.
Bravada Gold Corporation is an exploration company with a portfolio of properties in Nevada. The company has successfully identified and advanced properties with the potential for high-margin deposits and has attracted partners to fund later stages of development. Since 2005, Bravada has signed multiple joint-venture agreements and property-acquisition agreements, currently holding 11 projects consisting of 860 claims in Nevada.
Joseph Anthony Kizis, Jr., Director and President of Bravada Gold Corporation, is the qualified person responsible for the technical data presented in this release. The company does not assume any obligation to update or revise its forward-looking statements, based on inherent risks and uncertainties. This news release is not intended for distribution to United States newswire services or dissemination within the United States. For more information, please visit the source version of this press release.
