Business
Bravada Closes Previously Announced Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Bravada Gold Corporation (TSXV: B...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada Closes Previously Announced Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (\"Bravada\" or \"Company\") announces that it has closed the second tranche of its previously announced non-brokered private placement by issuing 14,248,667 units (\"Units\") for proceeds of $427,460 and, along with the first tranche closing, has now issued a final total of 35,954,000 Units at a price of $0.03 per Unit for gross proceeds of $1,078,620 (the \"Offering\"). Each Unit consists of one common share and one share purchase warrant, exercisable to purchase one additional common share at a price of $0.05 for 3 years.Securities issued pursuant to the second tranche closing include common shares, share purchase warrants and non-transferable finder warrants issued as finders' fees, all of which carry a legend restricting trading of the securities until October 21, 2025. The Company paid finders' fees in the Offering comprised of an aggregate $20,434.80 cash and 681,160 finder warrants, with each finder warrant exercisable to purchase one common share for a period of three years at an exercise price of $0.05 per share. The Offering and payment of finders' fees is subject to TSX Venture Exchange acceptance.Net proceeds from the Offering will be used to conduct a Pre-feasibility Study (\"PFS\") of the Wind Mountain gold/silver deposit in NW Nevada (approximately 65%). Net proceeds will also cover Annual Federal claim-holding fees (15%), and general working capital (approximately 20%, with 14% of general working capital payable to non-arm's length parties). No amounts are proposed to be spent on investor relations activities.Bravada's 2022 Preliminary Economic Assessment (\"PEA\") demonstrated favorable economics for an open-pit mining operation utilizing a limited heap-leach pad for a portion of the Pit-delineated Indicated Resource as a Phase I operation. Subsequent studies identified a larger Phase II heap-leach pad site for the remainder of the Indicated Resource and potentially additional near-surface, oxide gold mineralization that, with further delineation drilling, could be added to the Phase II pad to extend mine-life. President Joe Kizis commented, \"The Company believes a dramatic increase in precious metal prices and a more favourable permi...