Corvus Gold Announces Closing of CAD $2.6M Non-Brokered Private Placement

VANCOUVER, July 18, 2016 /PRNewswire/ – Corvus Gold Inc. (TSX:KOR, OTCQX:CORVF) announces the closing of a CAD $2,601,000 non-brokered private placement (the “Private Placement”) at CAD$1.02 per share. Pursuant to the Private Placement, the Company issued 2,550,000 common shares with no warrant, representing approximately 2.8% of the outstanding Corvus common shares. The common shares issued in the Private Placement are subject to a hold period which expires on January 26, 2017. The sole participant in the Private Placement is Osisko Mining Inc. (TSX: OSK). Proceeds from the Private Placement are expected to accelerate the Company’s North Bullfrog exploration program in 2016 and beyond.
Jeffrey Pontius, Corvus’ CEO states “Corvus is very pleased to be adding the Osisko group to our shareholder register. The additional funding will be used to accelerate the exploration program at our North Bullfrog project where recent results have been encouraging. The Osisko group has had a long history of recognizing quality investment opportunities and we are pleased they have chosen to invest with the Corvus team as we work to deliver the next major Nevada gold deposit.”
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