Business
Viva Gold Announces Closing of Private Placement Offering
(TheNewswire) Langley, British Columbia – July 9, 2024 – TheNewswire ...
About this update from Viva Gold Corp
[{"type":"text","content":"Viva Gold Announces Closing of 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 – July 9,\n2024\n \n \n –\n \n \n TheNewswire\n \n \n :\n \n \n Viva Gold Corp.\n(\"Viva Gold\" or the “Company”) (TSX Venture Exchange:\nVAU) is pleased to announce that it has completed the previously\nannounced non-brokered private placement (the \"Offering\")\ndescribed in its news release of June 10, 2024. In connection with the\nclosing of the Offering, the Company issued an aggregate of 4,451,667\nunits (the \"Units\") at a price of CDN$0.15 per Unit for\ngross proceeds of CDN$667,750. Each Unit consists of one common share\nin the capital of the Company (a “Share”) and one-half of one\nnon-transferable common share purchase warrant (each whole common\nshare purchase warrant, a “Warrant”). Each whole Warrant is\nexercisable to acquire one Share at an exercise price of CDN$0.22 per\nShare until July 15, 2027, which is 36 months from the date of\nissuance.\n \n \n \n \n “This financing will allow the company to complete an\nupdated resource estimate to include results from 50 holes drilled by\nViva from 2022 to 2024 and to complete an updated Preliminary Economic\nAssessment (“PEA”) study with additional value adding technical\nwork on the Tonopah Gold project located near Tonopah, Nevada,”\nStated James Hesketh, President & CEO.\n \n \n \n \n Insiders of the Company acquired an aggregate of\n1,725,000 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 complete the Offering ...