Corvus Gold Increases Non-Brokered Private Placement
Vancouver, British Columbia…Corvus Gold Inc. (“Corvus” or the “Company”) (TSX: KOR, OTCQX: CORVF) announces that it has increased the amount of the non-brokered private placement announced April 17, 2012. The non-brokered private placement will now consist of up to 8,250,000 common shares at a price of CAD 0.67 per share for gross proceeds of up to CAD 5,527,500 (the “Offering”).
The net proceeds from the Offering are intended to be used to fund ongoing work programs on the North Bullfrog Project in Nevada and for general working capital. The North Bullfrog project is currently being evaluated as a two stage development opportunity with a low initial capex. The recent Preliminary Economic Assessment of the North Bullfrog project (NR12-07, February 28, 2012) indicates potential for an attractive new Nevada gold mining operation that would be highly leveraged to gold prices with excellent infrastructure and in one of the best mining jurisdictions in the world.
To read the entire news release follow the link below:
May 2, 2012 (Source: Corvus Gold Inc.)
Disclosure: Corvus Gold is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team are actively accumulating and may hold long positions in KOR.T or CORVF .