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Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) closed a $5,230,000 non-brokered private placement of 5,230,000 common shares at a price of $1.00 per share.
As quoted in the press release:
Under the terms of the Offering, the Company issued 5,230,000 common shares at a price of CAD $1.00 per share, which represents a 15% discount to the 5-day volume weighted average price from October 29 through November 4, 2013 of CAD $1.18.
Corvus Gold Inc. CEO, Jeff Pontius, said:
The closing of this strategic financing on terms that minimize shareholder dilution in a challenging market highlights the confidence and commitment of our major shareholders. It is also exciting to have Euro Pacific Gold Fund and Peter Schiff join the Corvus shareholder group with their insightful view on our sector. Management firmly believes that an integral part of maximizing the upside potential of the North Bullfrog project is the continued drilling and expansion of our newly discovered Yellowjacket high-grade gold-silver system. The impact of the results from this high-grade gold and silver system on the existing global project resource and preliminary economic assessment (“PAE”) should be apparent in the updated resource estimate and PEA scheduled for release following the end of the 2013 drill season in Q1 2014. As a result of this financing, Corvus will be able to continue with an aggressive drill program at Yellowjacket and other high-grade targets as well as proceed towards initial permitting work next year.
Click here to read the Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) press release
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