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Aurvista Gold Closes Previously Announced Private Placement Raising C$1,097,880
Montreal, Quebec / ACCESSWIRE / May 30, 2016 / Aurvista Gold Corporation ( TSXV: AVA ) (...
About this update from Maple Gold Mines Ltd
[{"type":"text","content":"Aurvista Gold Closes Previously Announced Private Placement Raising C$1,097,880Montreal, Quebec / ACCESSWIRE / May 30, 2016 / Aurvista Gold Corporation (TSXV: AVA) (OTC: ARVSF) (\"Aurvista\" or the \"Company\") has closed the non-brokered private placement of C$1,097,880 (the \"Closing\"). The Private Placement consisted of 6,361,504 flow-through units (the \"Flow-Through Units\") at a price of C$ 0.08 per Flow-Through Unit for gross proceeds of C$508,920. The Company also issued 9,816,000 non flow-through units (the \"Hard Units\") at a price of C$ 0.06 per Hard Unit for gross proceeds of C$588,960.\n \n Each Flow-Through Unit consists of one flow-through common share and one warrant. Each Hard Unit consists of one non flow-through common share and one Warrant. Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$ 0.10 per share during the 12 months from the Closing date.\n \n All the securities are subject to a four-month hold period from the Closing date. A finder's fee of C$75,802 as paid in accordance with the policies of the TSX Venture Exchange (the \"Exchange\"), and the Company also issued 758,016 finder warrants allowing the holder to purchase one common share of Aurvista at C$ 0.10 for a period of one year from the Closing date. The private placement is subject to the final approval of the TSXV.\n \n The Company intends on using the net proceeds from the private placement to continue advancing the Douay Gold Project and for general corporate purposes.\n \n About Aurvista Gold Corp.\n \n Aurvista 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.\n \n Forward-Looking Statements\n \n This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could diff...