Battle Mountain Gold Inc. Announces Closing of Strategic Investment by Gold Standard Ventures Corp.

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[{"type":"text","content":"Battle Mountain Gold Inc. Announces Closing of Strategic Investment by Gold Standard Ventures Corp.(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TheNewswire / May 6, 2016 - Further to its news release of April 20, 2016, Battle Mountain Gold Inc. (the \"Company\" or \"Battle Mountain\") (TSX-V: BMG) is pleased to announce, it has closed a non-brokered private placement (the \"Private Placement\") to Gold Standard Ventures Corp. (\"Gold Standard\") and certain other subscribers (the \"Other Subscribers\") for gross proceeds of $5,768,502.25. The Private Placement was comprised of two parts:\n\n\n \n-the issuance of 6,000,000 common shares (\"Common Shares\") of Battle Mountain to the Other Subscribers at CDN$0.35 per Common Share (the \"Offer Price\") for proceeds of $2,100,000; and\n\n\n \n-the issuance of 10,481,435 units (\"Units\") to Gold Standard at the Offer Price for proceeds of $3,668,502.25 resulting in Gold Standard owning 19.9% of the total issued and outstanding Common Shares upon completion of the Private Placement. Each Unit comprises one common share and one-half of one common share purchase warrant (each a \"Warrant\"). Each whole Warrant entitles Gold Standard to purchase one additional Common Share at a price of CDN$0.37 per Common Share for two years from the date of issue, and is subject to certain additional limitations as provided below.\n\n\n \nUpon completion of the Private Placement, and excluding shares issuable on exercise of the Warrants, Gold Standard now holds 19.9% of the issued and outstanding Common Shares of Battle Mountain. \n\n\n \nPursuant to the terms of the Warrants, Gold Standard will be prohibited from exercising the Warrants until the approval is received for Gold Standard to become a control person of Battle Mountain, including receipt of the required approval from shareholders of Battle Mountain.\n\n\n \nA minimum of at least 75% of the proceeds of the Private Placement will be expended on the further exploration of the Lewis Gold Project, and a maximum of 25% of the proceeds of the Private Placement will be used for general corporate and working capital purposes.\n\n\n \nFinder's fees of $105,000 are payable in conjunction with the Private Placement to the Other Subscribers. \n\n\n \nThe Common Shares and Warrants issued in connection with the Private Placement are subject ...

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