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Norvista Capital Announces Participation in Minera Alamos Financing
TORONTO, ON / ACCESSWIRE / May 17, 2016 / Norvista Capital Corporation (TSXV: NVV) (" Norvis...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Norvista Capital Announces Participation in Minera Alamos FinancingTORONTO, ON / ACCESSWIRE / May 17, 2016 / Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") is pleased to announce a combined investment of $500,000 by Norvista and Norvista Capital I Limited Partnership (\"Norvista LP\") in the recently closed financing (the \"Financing\") by Minera Alamos Inc. (\"Minera\") (TSX-V: MAI). The Financing was closed in three tranches which in total aggregated to $4,000,000 as described in Minera's press release dated May 16, 2016. A portion of the proceeds from the Financing was used by Minera to fund the purchase of the La Fortuna project, located in Durango Mexico, from Argonaut Gold Inc. La Fortuna, an open pit gold project, which remains open at depth and along strike, hosts measured and indicated mineral resources of 4.8 million tonnes grading 2.0 grams per tonne gold and containing 308,100 ounces of gold with additional silver credits presently excluded from the resource calculation. It is Minera's intention to issue a technical report in the next several months defining La Fortuna's project economics potentially leading to a construction decision before the end of 2016. The combined holdings of the Company and Norvista LP now represent 14.3% of the issued and outstanding shares of Minera on a non-diluted basis. The Company has a representative on the Board of Directors of Minera.\nDon Christie, President and CEO of Norvista commented \"we are extremely pleased to-date with our investment in Minera based upon the substantial progress made over the last year by the experienced management team at Minera. We made our initial investment in June of 2015 and look forward to continuing our support of Minera as the company moves towards a production decision on their very promising La Fortuna open pit gold project\".\nAbout Norvista\nNorvista is a resource based merchant bank that began operations and was listed for trading on the TSX Venture Exchange in June of 2014. The Company's strategy is to capitalize on the significant asset value contraction that has occurred over the last several years in the resource industry, with particular emphasis on small to mid-scale base and precious metal projects. Norvista focuses its efforts on the pursuit of highly prospective exploration projects while balancing explorati...