June 14, 2017
Aurvista Gold to Increase Financing up to a Maximum of $10 Million
MONTREAL, QUEBEC–(Marketwired – June 14, 2017) –
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
Aurvista Gold Corporation (“Aurvista” or the “Company“) (TSX VENTURE:AVA)(OTCQB:ARVSF)(FRANKFURT:AV2) is pleased to announce that in response to strong investor demand the Company plans to increase the previously announced (see press release dated June 2, 2017) private placement financing from C$7,000,000 up to C$10,000,000 subject to regulatory approval. The Company will increase the charitable flow-through (“CFT Units”) portion of the financing from C$5,000,000 up to C$6,000,000 and the hard dollar (“HD Units”) portion from C$2,000,000 up to $4,000,000. The CFT Units are priced at C$ 0.41 per CFT Unit, and the HD Units are priced at $0.25 per HD Unit. If the Company raises the full $10,000,000 as contemplated above, 30,634,146 Units would be issued.
As previously announced, each CFT Unit and each HD Unit will consist of one common share and one full warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of C$0.40 per share for a period of 5 years from the date of issue which is expected to be June 22, 2017. It is the company’s intention to list the warrants for trading once the hold period concludes, subject to TSX Venture Exchange approval.
Aurvista is also pleased to announce that all the Warrants issued in May 2016 Unit offering have been exercised for aggregate proceeds of C$1,600,000.
Douay Gold Project and Company Profile:
Aurvista Gold Corporation is a well-funded gold exploration and development company focused on advancing one of the largest undeveloped gold projects in Quebec. The Company’s district-scale 305 km² Douay Gold Project is located along a 40km segment of the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec. The Project hosts a multi-million ounce gold deposit that remains open in several directions, with excellent infrastructure and several large scale operating mines within 150 km. The Douay Gold Project’s high-grade zones are still intact (never been mined), the Project is virtually royalty free, and the Company has aggressive property-wide exploration and drilling plans to continue making new discoveries and building high-quality ounces in one of the best mining jurisdictions in the world. 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.
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 Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.aurvistagold.com.