Bravada Gold Sells Wind Mountain Deposit to Mantra Capital

Bravada Gold Corporation (TSXV:BVA) signed a definitive option agreement with Mantra Capital Inc. for the Wind Mountain gold/silver property in Nevada. The Agreement is for staged payments totalling approximately Cd$5.2 million, with $25,000 upon execution of the Definitive Agreement.

As quoted in the press release:

Bravada Gold Corporation (“Bravada” or the “Company”) has signed a definitive option agreement with Mantra Capital Inc. for the sale of the Wind Mountain gold/silver property in Nevada. The sale price consists of staged payments totalling approximately Cd$5.2 million as follows:

$25,000 upon execution of the Definitive Agreement (received);
$275,000 cash and $100,000 in Mantra common shares by August 1, 2014;
$700,000 cash and $100,000 in Mantra common shares by August 1, 2015;
$2,000,000 by August 1, 2016; (Note) and
$2,000,000 by August 1, 2017(Note).

Note: Mantra may satisfy the payment of 50% of each payment by the issuance of its common shares valued at market prices at the respective payment dates.
President Joe Kizis commented, “The transaction with Mantra allows Bravada to continue its core business of exploring its remaining inventory of 13 mineral properties in mining-friendly Nevada, together with any newly acquired properties, directly and through option and joint-venture agreements with third-party companies, while benefitting from the sale of Wind Mountain for cash and common shares in a new company managed by experienced mining personnel that will focus its efforts on bringing the Wind Mountain gold and silver property back into production.

Click here to read the Bravada Gold Corporation (TSXV:BVA) press release