VANCOUVER, Oct. 11, 2017 /CNW/ - Bravura Ventures Corp. (CSE: BVQ;OTC: BRVVF; FRA: 23B) ("Bravura" or the "Company") announces that it arranged a non-brokered private placement (the "Private Placement") for gross proceeds of $1,000,000. The Private Placement will consist of 500,000 units at $1.00 per unit for gross proceeds of $500,000 and 400,000 Flow Through shares at $1.20 per share for gross proceeds of $500,000.
Each unit will comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will be exercisable into a common share of the company for a period of 12 months at an exercise price of $1.25 during the 12 months.
Each warrant is subject to accelerated expiry provisions, such that if at any time after the expiry of any resale restriction governing the subscribed shares, the corporation's common shares trade on the CSE at or above a volume-weighted average trading price of $1.50 per common share for 10 consecutive trading days, the company may give notice to the holders that each warrant will expire 30 days from the date of providing such notice.
The net proceeds from the non-brokered private placement are intended to be used for general working capital, property acquisitions and exploration.
BRAVURA VENTURES CORP.
Greg Burns, Director
Forward-Looking Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Bravura Ventures Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Bravura Ventures Corp.
For further information: 800 - 1199 West Hastings Street, Vancouver, British Columbia, V6E 3T5, Tel.: 604.283.1722 / Fax: 1.888.241.5996