Aurvista Gold to Raise $7 Million Dollars
MONTREAL, QUEBEC--(Marketwired - Jun 2, 2017) - Aurvista Gold Corp. ("Aurvista" or the "Company") (TSX VENTURE:AVA)(OTCQB:ARVSF)(FRANKFURT:AV2) is very pleased to announce that it plans to complete a private placement financing for aggregate gross proceeds of C$7,000,000 (the "Offering") through the combination of a sale of charitable flow-through units ("CFT Units") at a price of C$ 0.41 per CFT Unit, and the sale of hard dollar units ("HD Units") at a price of $0.25 per HD Unit. If C$5,000,000 were raised in the CFT Unit offering and C$2,000,000 were raised in the HD Unit offering, an aggregate of 20,195,121 Units would be issued.
Each CFT Unit and each HD Unit will consist of one common share and one full warrant. Each warrant, which will be transferable, will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.40 per share. It is the Company's intention to list the warrants for trading on the TSX Venture Exchange (the "Exchange"), as this can encourage longer-term investors of the underlying units. The warrants will be listed once the hold period concludes, subject to TSX Venture Exchange approval. The warrants will expire five (5) years from the closing date, which is expected to be on or about June 22, 2017.
All the securities will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the Exchange and a finder's fee will be payable on a portion of the funds in accordance with the policies of the Exchange.
The Company intends on using the net proceeds from the private placement to continue advancing the Douay Gold Project and for general corporate purposes.
Aurvista's President and CEO, Matthew Hornor, stated: "We are excited about the strong support we have seen from existing and new investors for this private placement. The majority of the financing comes at a 64% premium and will aid Aurvista in fully realizing and capitalizing on the latent potential of its Douay project."
Douay Gold Project and Company Profile:
Aurvista Gold Corp. is a junior gold exploration and development Company advancing the Douay Gold Project. Aurvista's 305 km² district-scale Douay Gold Project hosts a large inferred gold resource with significant exploration upside along a 40 km segment of the Casa Berardi Deformation Zone in the prolific Abitibi Greenstone Belt of northern Quebec. Douay is located 55 km SW of the Matagami Base Metal Camp and ~140 km N of the Val-d'Or - Malartic Gold Camp (both in Quebec). The Company has 148,901,764 shares outstanding trading on the TSX Venture Exchange in Canada, the Frankfurt Stock Exchange in Germany and the OTCQB in the US. For more information, please visit the Company's website at www.aurvistagold.com.
NEITHER THE 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 PRESS RELEASE.
Forward-Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corp.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.
Contact
Aurvista Gold Corp.
Mr. Joness Lang
Office: +1 416.682.2674
jlang@aurvistagold.com
www.aurvistagold.com