By Devika Patel
Knoxville, Tenn., Aug. 20 - Bravada Gold Corp. said that took in C$135,000 in the second tranche of a non-brokered private placement of units. The deal priced for up to C$1.5 million on July 5 and the company raised C$900,000 in the first tranche on Aug. 5.
The company is selling up to 10 million units at a price of C$0.15 per unit. It sold 6 million units in this tranche.
Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.20 for two years. The strike price is identical to the closing share price of C$0.20 on July 2.
Proceeds will be used for exploration on projects in Nevada's Battle Mountain Eureka Trend and 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: | C$1.5 million (maximum)
|
| Units: | 10 million (maximum)
|
| 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
|
| Settlement date: | Aug. 6 (for C$900,000), Aug. 20 (for C$135,000)
|
| Stock symbol: | TSX Venture: BVA
|
| Stock price: | C$0.20 at close July 2
|
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