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Aurvista Gold Corp. Announces Second Closing of Brokered Private Placement
(via Thenewswire.ca) Montreal, Quebec - December 5th, 2012, Aurvista Gold Corporation. ("Au...
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[{"type":"text","content":"\nAurvista Gold Corp. Announces Second Closing of Brokered Private Placement\n\n(via Thenewswire.ca)\n\n \nMontreal, Quebec - December 5th, 2012, Aurvista Gold Corporation. (\"Aurvista\" or the \"Corporation\") (TSX-V: AVA) announces that it has completed a second closing of its previously announced brokered private placement. The brokered private placement was for units (the \"Offering\") consisting of common shares and warrants as described in its October 24, 2012 press release. Under this second closing, Aurvista issued 2,015,412 units consisting of common shares and 1,007,706 warrants for aggregate gross proceeds of $503,853. The common shares, warrants, agent's warrants and securities issuable upon the exercise thereof may not be traded until April 6th, 2013. The Corporation intends to complete additional closings in the following weeks. \nUnder the Offering, each unit consists of one common share and one half of one common share purchase warrant. Each unit is being offered at a price of $0.25 per unit (the \"Offering Price\"). Each whole warrant entitles the holder to purchase one common share at a price of $0.40 per common share at any time for a period of two years.\n\n\n \n\nIn connection with the Offering, Jacob Securities Inc. was engaged as an agent and was paid a cash commission of 7% of the gross proceeds of the Offering. Jacob Securities Inc. will also receive non-transferable Agent Warrants, equivalent to 7% of the units sold under the Offering. Each Agent Warrant can be exercised at any time within one year of the date of its issuance to acquire one additional share of the Corporation at $0.25 per share.\nThe Corporation has also granted Jacob Securities Inc. an option to sell an additional 8,000,000 units at the Offering Price to raise additional funds for total aggregate gross proceeds of C$5 million.\n\n \n \nThe gross proceeds of the Offering, after deducting the expenses of the Offering, will be used for Aurvista's upcoming drill program and working capital purposes. \n\n\n \n\nThe securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be ...