Bravada Cancels Previously Announced Financing

Rhea-AI Summary

Bravada Gold (TSXV: BVA) (OTC Pink: BGAVF) (FSE: BRTN) has announced the cancellation of its previously announced non-brokered private placement. The company will not proceed with the planned offering of up to 10,000,000 units at $0.035 per unit, which would have raised gross proceeds of $350,000. This decision follows multiple news releases regarding the financing between August and December 2024.

Positive

• None.

Negative

• Cancellation of $350,000 private placement financing
• Loss of potential capital raising opportunity
• Potential impact on planned business activities due to lack of expected funding

Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Bravada Gold Corporation (TSXV: BVA) (OTC Pink: BGAVF) (FSE: BRTN) ("Bravada" or "Company") reports that further to the Company's news releases dated August 22, 2024, October 1, 2024, November 6, 2024 and December 6, 2024, it will not be proceeding with the non-brokered private placement of up to 10,000,000 units at a price of $0.035 per unit for gross proceeds of $350,000.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company has signed 33 earn-in joint-venture agreements for its properties with 20 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

On behalf of the Board of Directors

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com; or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including, but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding the amount of the Offering and completion of the Offering, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237987

FAQ

Why did Bravada Gold (BGAVF) cancel its private placement in January 2025?

The press release does not specify the reason for the cancellation of the $350,000 private placement.

How much money was Bravada Gold (BGAVF) planning to raise in the cancelled financing?

Bravada Gold was planning to raise gross proceeds of $350,000 through the issuance of 10,000,000 units at $0.035 per unit.

What was the price per unit in Bravada Gold's (BGAVF) cancelled private placement?

The cancelled private placement was priced at $0.035 per unit.

When was Bravada Gold's (BGAVF) private placement originally announced?

The private placement was originally announced on August 22, 2024, with subsequent updates on October 1, November 6, and December 6, 2024.