Viva Gold Closes Oversubscribed Private Placement

Core Viewpoint - Viva Gold Corp. has successfully completed a non-brokered private placement, raising gross proceeds of CDN$4,183,273 through the issuance of 26,145,456 units, which will be utilized for advancing the Tonopah Gold Project [1][2]. Group 1: Offering Details - The Offering consisted of 26,145,456 units priced at CDN$0.16 each, with each unit comprising one common share and one-half of a non-transferable common share purchase warrant [1]. - Each whole warrant is exercisable at CDN$0.24 per share until December 29, 2028, which is 36 months from issuance [1]. - Insiders acquired 6,490,956 units, qualifying as a "related party transaction" but exempt from formal valuation and minority shareholder approval due to the transaction's size relative to the company's market capitalization [3]. Group 2: Use of Proceeds - The proceeds from the Offering will primarily fund pre-feasibility and feasibility studies at the Tonopah Gold Project, including necessary technical and environmental studies [4]. - Additional allocations include geophysical surveys, geological work, and general working capital [4]. Group 3: Finder's Fees - The Company will pay finder’s fees totaling CDN$84,154 and issue 525,962 Finder's Warrants, each exercisable at CDN$0.24 per share until December 29, 2028 [5]. Group 4: Regulatory Approval - The Offering is subject to final approval from the TSX Venture Exchange, and the securities issued will be under a statutory hold period of four months and one day from the issuance date [6]. Group 5: Company Overview - Viva Gold's Tonopah Gold Project is strategically located in a prominent mining area in Nevada, with a developed high-confidence gold mineral resource and potential for an economically viable open pit project [10]. - The Company is led by experienced professionals, including CEO James Hesketh, who has extensive experience in mining development and construction [10].