VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2011) - Bravo Gold Corp. (News - Market indicators)(FRANKFURT:B6I) is pleased to announce that it has closed the first tranche of its previously announced non-brokered flow-through private placement by issuing 23,076,923 units ("Flow-Through Units") for gross proceeds of $3,000,000. Each Flow-Through Unit consists of one flow-through common share and one-half share purchase warrant, with each whole share purchase warrant exercisable to purchase one non-flow-through common share at an exercise price of $0.20 per share for a period of two years.
Proceeds from the private placement will be used to fund exploration programs on the Homestake Ridge, Kinskuch and Silver Basin Properties in British Columbia. All securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder's options issued as finder's fees, carry a legend restricting trading of the securities until October 9, 2011. The private placement and finder's fees are subject to regulatory approval.
ON BEHALF OF THE BOARD
Joseph A. Kizis Jr., President and Director
Bravo Gold Corp.
For further information, please visit the company's website at bravogoldcorp.com.
Bravo Gold is a gold exploration company based in Canada.
Bravo Gold holds various exploration projects in Canada.
Its main exploration properties are GRANITE MOUNTAIN, SOUTH BATTLE MOUNTAIN, MOUNTAIN BOY - SIGNAL PROJECT, SOUTH LONE MOUNTAIN, SF CLAIMS, GABEL CANYON, HO CLAIMS, THREE BAR CLAIMS, PETE HANSON, NORTH LONE MOUNTAIN, SHOSHONE PEDMENT and WOEWODSKI ISLAND PROJECT in USA and HOMESTAKE RIDGE in Canada.
Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.98, and its lowest recent point on April 13, 2012 at CA$ 0.03.
Bravo Gold has 215 411 000 shares outstanding.
