Bravo Gold brings Bravada holdings to 44%
2010-05-18 18:10 ET - News Release
Also News Release (C-BVA) Bravada Gold Corp
Mr. Joseph Kizis Jr. of Bravo reports
BRAVO GOLD CORP. ACQUIRES SHARES OF BRAVADA GOLD CORPORATION
On Feb. 9, 2010, Bravo Gold Corp. acquired 1.5 million common shares at $1.00 per share of Bravada Gold Corp. in a private placement financing. On March 5, 2010, Bravo acquired 9,647,687 common shares as part of a plan of arrangement effected pursuant to an arrangement agreement entered into on Sept. 30, 2009. As a result of the private placement and plan of arrangement, the offeror owns and controls 11,147,687 common shares of Bravada representing 44 per cent of the issued and outstanding common shares of Bravada.
The company's current intentions are that it acquired the 1.5 million common shares by private placement, and the 9,647,687 common shares as part of the plan of arrangement for investment purposes, but may, from time to time, reconsider its holdings in Bravada and, as circumstances dictate, may increase or decrease its position in Bravada.