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Viva Gold Announces Repricing of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 23, 2019 (GLOBE NEWSWIRE) -
About this update from Viva Gold Corp
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 23, 2019 (GLOBE NEWSWIRE) -- Viva Gold Corp. (\"Viva Gold\" or the “Company”) (TSX Venture Exchange: VAU) announces that it has repriced its previously announced non-brokered private placement (see news release dated April 3, 2019). The private placement is being re-priced to more accurately reflect the current market price of the Company’s common shares. The non-brokered private placement (the \"Offering\") will consist of up to 5,000,000 units (the \"Units\") at a new price of CDN$0.30 per Unit for gross proceeds of up to CDN $1,500,000. 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$0.40 per Share for a period of 24 months from the date of issuance. Proceeds will be utilized to advance and perform technical studies on the Tonopah project, including drilling operations, and for general corporate 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 Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation. Closing of the Offering is subject to approval of the TSX Venture Exchange. The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. Correction to Viva’s May 21, 2019 Press Release The line shown in the Pit-Confined Min...