Business
Viva Gold Announces Closing of $1.6 Million Private Placement Offering
(TheNewswire) Langley, British Columbia – TheNewswire - April 3, 202 5 -...
About this update from Viva Gold Corp
[{"type":"text","content":"Viva Gold Announces Closing of $1.6 Million Private Placement Offering\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Langley, British Columbia –\n \n\n TheNewswire -\n \n\n April 3, 202\n \n\n 5 -\n \n\n Viva Gold Corp.\n(\"Viva Gold\" or the “Company”) (TSX Venture Exchange:\nVAU) is pleased to announce that it has completed a non-brokered\nprivate placement offering (the \"Offering\"). In connection\nwith the closing of the Offering, the Company issued an aggregate of\n12,576,974 units (the \"Units\") at a price of CDN$0.13 per\nUnit for gross proceeds of CDN$1,635,007. Each Unit consists of one\ncommon share in the capital of the Company (a “Share”) and\none-half of one non-transferable common share purchase warrant (each\nwhole common share purchase warrant, a “Warrant”). Each whole\nWarrant is exercisable to acquire one Share at an exercise price of\nCDN$0.17 per Share until April 2, 2028, which is 36 months from the\ndate of issuance.\n \n\n\n\n “This financing will allow the company to complete an\nupdated NI43-101 compliant resource estimate and Preliminary Economic\nAssessment (“PEA”) study already underway for the Tonopah gold\nproject (“Tonopah”) located near Tonopah, Nevada. In addition,\nthis financing will enable the company to commence work on\nrecommendations made by the qualified persons authoring the PEA and to\nmove the project into feasibility study,” stated James Hesketh,\nPresident & CEO.\n \n\n\n\n Insiders of the Company acquired an aggregate of\n2,871,869 Units in the Offering, which participation constituted a\n\"related party transaction\" as defined under Multilateral\nInstrument 61-101 Protection of Minority Security Holders in Special\nTransactions (“MI 61-101”). Such participation is exempt from the\nformal valuation and minority shareholder approval requirements of MI\n61-101 as neither the fair market value of the Units acquired by the\ninsiders, nor the consideration for the Units paid by such insiders,\nexceed 25% of the Company's market capitalization. As required by MI\n61 101, the Company advises that it expects to file a material change\nreport relating to the Offering less than 21 days before completion of\nthe Offering, which is necessary to c...