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Viva Gold Announces Extension to Private Placement and Exhibits at the 2020 Vancouver Resource Investment Conference
VANCOUVER, British Columbia--(BUSINESS WIRE)--Viva Gold Corp. ("Viva Gold" or the “Company”) (TSX Venture Exchange: VAU) announces an extension for completion o
About this update from Viva Gold Corp
[{"type":"text","content":"VANCOUVER, British Columbia--(BUSINESS WIRE)--Viva Gold Corp. (\"Viva Gold\" or the “Company”) (TSX Venture Exchange: VAU) announces an extension for completion of the second tranche of its non-brokered private placement (the \"Offering\"), previously announced in its news release on December 5th, 2019. The Company also welcomes you to visit Booth #429 at the Vancouver Resource Investment Conference on January 19th and 20th to speak with its Management and Directors. The conference will be held at the Vancouver Convention Centre West, 1055 Canada Place, Vancouver, BC. Non-Brokered Private Placement The Offering is expected to close in two tranches with the second and final tranche expected to close on or before February 20th, 2020. Closing of the Offering is subject to certain conditions customary for financings of this kind, including, but not limited to, the receipt of all necessary approvals including approval and acceptance by the TSX Venture Exchange. The non-brokered private placement (the \"Offering\") may consist of up to 2,500,000 units (the \"Units\") at a price of CDN$0.24 per Unit for gross proceeds of up to CDN$600,000. Each Unit will consist of one common share in the capital of the Company (a “Share”) and one whole transferable common share purchase warrant (a “Warrant”). Each whole Warrant will be exercisable to acquire one Share at an exercise price of CDN$0.34 per Share for a period of 24 months from the date of issuance. Viva Gold intends to use the net proceeds of the Offering to complete a Preliminary Economic Assessment and other technical work on its Tonopah Gold Project in Western Nevada, and for general working capital purposes. Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement would constitute a \"related party transaction\" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization. The Company may pay finder’s fees on a portion of the ...