Business
Aurvista Gold Arranges C$ 1,100,000 Financing
MONTREAL, QC / ACCESSWIRE / May 3, 2016 / Aurvista Gold Corporation (TSXV: AVA) (OTC: ARVSF) ...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Aurvista Gold Arranges C$ 1,100,000 FinancingMONTREAL, QC / ACCESSWIRE / May 3, 2016 / Aurvista Gold Corporation (TSXV: AVA) (OTC: ARVSF) (\"Aurvista\" or the \"Company\") has arranged a non-brokered private placement of up to C$ 1,100,000. The Private Placement will consist of up to 6,250,000 flow-through units (the \"Flow-Through Units\") at a price of C$ 0.08 per Flow-Through Unit for gross proceeds of up to C$ 500,000. Concurrently, the Company will also be offering up to 10,000,000 non flow-through units (the \"Hard Units\") at a price of C$ 0.06 per Hard Unit for gross proceeds of up to C$ 600,000. The closing is expected shortly.\nEach Flow-Through Unit will consist of one flow-through common share and one warrant. Each Hard Unit will consist of one non flow-through common share and one warrant. Each warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of C$ 0.10 per share during the 12 months from the closing date. \nAll the securities will be subject to a four-month hold period from the date of closing. A finder's fee may be payable in accordance with the policies of the TSX Venture Exchange (the \"Exchange\"). The private placement is subject to the approval of the TSXV. \nThe Company intends on using the net proceeds from the private placement to continue advancing the Douay Gold Project and for general corporate purposes. \nAbout Aurvista Gold Corp.\nAurvista Gold Corporation is a junior gold exploration and development company with 69,511,617 shares outstanding trading on the TSX Venture Exchange in Canada and OTC Pink Sheets in the U.S. Aurvista's only asset is the Douay Gold Project totaling 287 claims for 145.3 km2. Of the total, 32 claims for 11.9 km2 form the North West Zone and are in a joint venture with SOQUEM (75% Aurvista, 25% SOQUEM). The project is located along the gold-bearing Casa Berardi Deformation Zone in northern Quebec. Details can be viewed on the Company's website at www.aurvistagold.com\nForward-Looking Statements\nThis news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and...