Bravo Gold Corp. Closes First Tranche of Flow-Through Private Placement
30.12.2011 | Marketwire
VANCOUVER, 12/30/11 - Bravo Gold Corp. (TSX VENTURE: BVG) (FRANKFURT: B6I) has closed the first tranche of its previously announced non-brokered private placement by issuing 10,835,285 flow through units ('Flow-Through Units') for gross proceeds of $758,469.95. Each Flow-Through Unit consists of one common share and one-half transferable share purchase warrant, each whole warrant entitling the purchase of one common share at a price of $0.10 per share for 24 months.The company intends to use the gross proceeds from the sale of the flow-through shares for Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), with the company using its best efforts to ensure that such CEE qualify as a flow-through mining expenditures for purposes of the Income Tax Act (Canada), related to the exploration during 2011-2012 of the company's mineral exploration projects located in British Columbia, Canada. The company expects to renounce such CEE with an effective date of Dec. 31, 2011.
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 April 24, 2012. 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.
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