Bravada Announces Non-Brokered Private Placement

Core Viewpoint - Bravada Gold Corporation plans to issue up to 25,000,000 units in a non-brokered private placement at a price of $0.04 per unit, aiming for gross proceeds of $1,000,000 to fund a Pre-feasibility Study of the Wind Mountain gold/silver deposit and cover other operational costs [1][2]. Group 1: Offering Details - The private placement consists of units, each comprising one common share and one share purchase warrant, with warrants exercisable at $0.05 for three years [1]. - An over-allotment option allows for the purchase of up to 10% additional units beyond the initial offering [1]. - The company may pay finders' fees in cash and non-transferable warrants, subject to TSX Venture Exchange policies [3]. Group 2: Use of Proceeds - Approximately 60% of the net proceeds will be allocated to the Pre-feasibility Study of the Wind Mountain deposit [2]. - 17% of the proceeds will cover land-holding fees, while about 23% will be used for general working capital, with 14% of that amount payable to non-arm's length parties [2]. Group 3: Company Background - Bravada is an established exploration and development company with a portfolio of high-quality properties in Nevada, recognized as a top mining jurisdiction [5]. - The company has a substantial gold and silver resource, supported by a positive Preliminary Economic Assessment (PEA) conducted in 2022 on a portion of the Wind Mountain deposit [5]. - Bravada has signed 33 earn-in joint-venture agreements and has eight projects in its portfolio, covering approximately 5,600 hectares in two prolific gold trends in Nevada [6].