Viva Gold Announces Private Placement Offering

Core Viewpoint - Viva Gold Corp. is initiating a non-brokered private placement to raise up to CDN$3,000,000 by offering 18,750,000 units at CDN$0.16 each, with each unit comprising one common share and one-half of a warrant [1] Group 1: Offering Details - The offering consists of up to 18,750,000 units priced at CDN$0.16 per unit, aiming for gross proceeds of up to CDN$3,000,000 [1] - Each unit includes one common share and one-half of a non-transferable common share purchase warrant, with each whole warrant exercisable at CDN$0.24 for 36 months [1] - The company may pay finder's fees, subject to TSX Venture Exchange policies, and the offering is pending approval from the exchange [4] Group 2: Insider Participation - Certain insiders may participate in the offering, which would be classified as a "related party transaction" under MI 61-101 [2] - The company anticipates that insider participation will be exempt from formal valuation and minority shareholder approval as it will not exceed 25% of the company's market capitalization [2] Group 3: Use of Proceeds - Proceeds from the offering will be allocated primarily for Pre-Feasibility/Feasibility study work at the Tonopah Gold Project, including technical and environmental studies [3] - Additional funds will be used for geophysical surveys, geological work, and general working capital [3] Group 4: Company Overview - Viva Gold's Tonopah Gold Project is located in a prominent mining area in Nevada and has a high confidence level gold mineral resource [5] - The company is committed to environmentally and socially responsible development, led by experienced management [5][6] - Viva Gold trades on the TSX Venture exchange under the symbol "VAU" and has approximately 145.3 million shares outstanding [6]