Battle Mountain Gold Inc. Announces Strategic Investment By Gold Standard Ventures Corp.

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[{"type":"text","content":"Battle Mountain Gold Inc. Announces Strategic Investment By Gold Standard Ventures Corp.(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TheNewswire / April 20, 2016 - Battle Mountain Gold Inc. (the \"Company\" or \"Battle Mountain\") (TSX-V: BMG) is pleased to announce it has entered into a letter agreement (the \"Letter Agreement\") in respect of a non-brokered private placement (the \"Private Placement\") to Gold Standard Ventures Corp. (\"Gold Standard\") and certain other subscribers (the \"Other Subscribers\"). The Private Placement comprises two parts:\n\n\n \n\n\n1.the issuance to the Other Subscribers of up to a maximum of 5,000,000 common shares of Battle Mountain (\"Common Shares\"), in the aggregate, at CDN$0.35 per Common Share (the \"Offer Price\"); and \n\n\n\n2.the issuance to Gold Standard of units (\"Units\") at the Offer price in such number that will result 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\n\n \nIf Battle Mountain issues the full 5,000,000 Common Shares to the Other Subscribers, Gold Standard will acquire 10,232,933 Units at a price of CDN$0.35 per Unit for a total combined subscription amount of CDN$5,331,547.55 under the Private Placement. \n\n\n \nUpon completion of the Private Placement, and excluding shares issuable on exercise of the Warrants, Gold Standard will hold 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 of the TSX Venture Exchange 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 \nChet Idziszek, President and Chief Executive Officer of Battle Mountain commented, \"This exciting strategic investment from Gold Standard will help Battle Mountain advance exploration at the Lewis Gold Project.\"\n\n\n \n...

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