Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Bravada Gold Corporation ("Bravada" or the "Company") (TSX VENTURE:BVA)(FRANKFURT:BRT) plans to issue up to 25,000,000 units in a non-brokered private placement at a price of $0.02 per unit to raise $500,000. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.05 per share.
Net proceeds from the private placement will be utilized to fund exploration expenses on the Company's exploration projects, to pay claim maintenance fees and option payments to maintain the status of the Company's properties, and for general working capital.
The financing is being conducted pursuant to the TSX Venture Exchange ("TSXV") bulletin of April 12, 2013 - Private Placements - Extension and Modification of Temporary Relief from Certain Pricing Requirements. The private placement and any finders' fees which may be payable are subject to acceptance for filing by the TSXV.
About Bravada Gold Corporation
Bravada is a member of the Manex Resource Group of companies with an exploration office in Reno, from which it is exploring its extensive Carlin-type and low-sulfidation-type gold holdings strategically located within numerous productive gold trends in Nevada. Homestake Resource Corporation (TSX VENTURE:HSR) owns 10.19% of Bravada's 114,834,282 outstanding common shares.
On behalf of the Board of Directors of Bravada Gold Corporation,
Joseph A. Kizis Jr., President & Director
Bravada Gold Corporation
For further information, please visit Bravada's website at www.bravadagold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.