Proceeds earmarked for exploration programs and pre-development work
By Devika Patel
Knoxville, Tenn., June 2 - Bravo Gold Corp. said it plans a C$5.07 million private placement of units.
The company will sell 39 million units at C$0.13 per unit. Each unit consists of one flow-through common share and one half-share warrant.
The whole warrants are each exercisable for two years at C$0.20, a 90.48% premium to C$0.105, the June 1 closing share price.
Proceeds will be used for exploration programs on the Homestake and the newly acquired Kinskuch projects and to continue with pre-development work on the Main Homestake and Homestake Silver deposits.
Bravo is a gold explorer in Vancouver, B.C.
| Issuer: | Bravo Gold Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$5.07 million
|
| Units: | 39 million
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | June 2
|
| Stock symbol: | TSX Venture: BVG
|
| Stock price: | C$0.11 at close June 2
|
| Market capitalization: | C$18.04 million
|
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