Bravo Gold Corp. Closes First Tranche of Flow-Through Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/11 -- Bravo Gold Corp. (TSX VENTURE: BVG)(FRANKFURT: B6I) is pleased to announce that it has closed the first tranche of its previously announced non-brokered flow-through private placement by issuing 23,076,923 units ('Flow-Through Units') for gross proceeds of $3,000,000. Each Flow-Through Unit consists of one flow-through common share and one-half share purchase warrant, with each whole share purchase warrant exercisable to purchase one non-flow-through common share at an exercise price of $0.20 per share for a period of two years.
Proceeds from the private placement will be used to fund exploration programs on the Homestake Ridge, Kinskuch and Silver Basin Properties in British Columbia. All securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder's options issued as finder's fees, carry a legend restricting trading of the securities until October 9, 2011. The private placement and finder's fees are subject to regulatory approval.
ON BEHALF OF THE BOARD
Joseph A. Kizis Jr., President and Director
Bravo Gold Corp.
For further information, please visit the company's website at bravogoldcorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bravo Gold Corp.
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.bravogoldcorp.com