Aurvista Gold to increase financing to $10-million

Jun 15, 2017


In response to strong investor demand, Aurvista Gold Corp. plans to increase the previously announced (see press release dated June 2, 2017) private placement financing from $7-million up to $10-million, subject to regulatory approval. The company will increase the charitable flow-through (CFT) portion of the financing from $5-million up to $6-million and the hard-dollar (HD) portion from $2-million up to $4-million. The CFT units are priced at 41 cents per CFT unit, and the HD units are priced at 25 cents per HD unit. If the company raises the full $10-million 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 40 cents per share for a period of five 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 $1.6-million.

About the Douay gold project and Aurvista Gold Corp.

Aurvista Gold is focused on advancing one of the largest undeveloped gold projects in Quebec. The company’s district-scale 305-square-kilometre Douay gold project is located along a 40-kilometre segment of the Casa Berardi deformation zone within the prolific Abitibi greenstone belt in Northern Quebec. The project hosts a multimillion-ounce gold deposit that remains open in several directions, with excellent infrastructure and several large-scale operating mines within 150 kilometres. 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.

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