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Bravada Gold Corporation Closes First Tranche of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2021) - Bravada Gold Corporation (T...
About this update from Bravada Gold Corporation
[{"type":"text","content":"Bravada Gold Corporation Closes First Tranche of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 9, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the \"Company\" or \"Bravada\") announces that the Company has closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share. Securities issued pursuant to this tranche of the private placement, including common shares and share purchase warrants carry a legend restricting trading of the securities until December 7th, 2021. Finders' fees and commissions may be paid by the Company in relation to the units sold in this Offering. The private placement is subject to regulatory approval.Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.President Joe Kizis commented on Bravada's various programs, \"This financing will allow the Company to further de-risk our flagship Wind Mountain Gold/Silver Property towards renewed production, initially by updating the independent Resource and PEA. In the past few years, we have drilled mineralization that has not been added yet to the Resource base, and we have identified a portion of the resource near the Breeze pit that might be developed as a \"starter\" pit with higher-than-average grades of both gold and silver. We conducted a 13-hole program to fill in gaps between the 2012 resource blocks and to test possible extensions in that area. We reported results for the first seven of those holes (see New Release NR-07-21 on July 12, 2021); however, assays are pending for the remaining holes. Hole WM21-109 was the highlight hole of the first batch of drill samples, which contains two thick zones of oxide mineralization starting at 18.3 metres depth: 21.3m of 0.456g/t Au/7.1g/t Ag followed immediately by 47.2m of 0.771g/t Au/24.2g/t Ag, including 10.7m of 1.342g/t Au/45.3g/t Ag.In addition, we are increasing our understanding of potential upwelling...