Corvus Gold Announces Closing of $3.47M Private Placement for the Advancement of its North Bullfrog Project, Nevada
The Company sold 3,250,000 common shares at a price of $1.07 for total proceeds of $3,477,500. The majority of the financing was taken by large existing shareholders such as Haywood Securities Inc. Chairman John Tognetti, Apogee Global Advisors, Inc. and Equity Management Associates as well as two individual investors.
The net proceeds from the Offering are intended for use to complete the Phase I feasibility study and rapidly advance the high-grade exploration on its North Bullfrog project. The North Bullfrog project is currently evaluating a new high-grade gold and silver discovery at its Yellow Jacket target as well as a two stage, fast track development opportunity with a low initial capex. The February 2012 Preliminary Economic Assessment of the North Bullfrog project indicates the potential for an attractive new Nevada mining operation with excellent infrastructure and in one of the best mining jurisdictions in the world.
The securities issued in the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
November 2, 2012 (Source: Corvus Gold, Inc.)
Disclosure: Corvus Gold, Inc. is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team may hold long positions in KOR.T.