By Marisa Wong
Madison, Wis., July 6 - Bravada Gold Corp. said that it plans to raise up to C$1.5 million through a non-brokered private placement of units.
Bravada plans to issue up to 10 million units at a price of C$0.15 per unit.
Each unit will consist of one common share and one half-share purchase warrant. Each whole warrant is exercisable to purchase one common share at a price of C$0.20 for a period of two years from the closing date.
Proceeds from the private placement will be used to fund exploration on projects in Nevada's Battle Mountain Eureka Trend, where permits have been issued on several drill-ready projects and where drilling is underway at the company's Signal project, and for working capital.
Bravada is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Bravada Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | Up to C$1.5 million
|
| Units: | Up to 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | July 5
|
| Stock symbol: | TSX Venture: BVA
|
| Stock price: | C$0.18 at close July 6
|
| Market capitalization: | C$4.61 million
|
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