By Devika Patel
Knoxville, Tenn., Oct. 14 - Bravo Venture Group Inc. said it has increased a non-brokered private placement of units to C$8.66 million from C$7.7 million. The company said the deal, which priced on Oct. 6, was oversubscribed.
The company now will sell 6.35 million units at C$0.45 apiece. Each unit consists of one common share and one half-share warrant. Each warrant will be exercisable at C$0.50 for two years.
Bravo also will sell 11.6 million flow-through units at C$0.50 apiece. Each unit consists of one flow-through common share and one half-share warrant. Each warrant will be exercisable at C$0.60 for two years.
Proceeds will be used for general working capital and drilling.
Bravo Venture is a resource exploration company based in Vancouver, B.C.
Issuer: | Bravo Venture Group Inc.
|
Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
Amount: | C$8,657,500
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | Two years
|
Agent: | Non-brokered
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Pricing date: | Oct. 6
|
Upsized: | Oct. 14
|
Stock symbol: | TSX Venture: BVG
|
Stock price: | C$0.47 at close Oct. 6
|
Market capitalization: | C$43.1 million
|
|
Units
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Amount: | C$2,857,500
|
Units: | 6.35 million
|
Price: | C$0.45
|
Warrant strike price: | C$0.50
|
|
Flow-through units
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Amount: | C$5.8 million
|
Units: | 11.6 million
|
Price: | C$0.50
|
Warrant strike price: | C$0.60
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