Bravo Gold Closes First Tranche of Private Placement before the New Year

Bravo Gold Corp (TSXV:BVG) announced closing the first tranche of its non-brokered private placement by issuing 10, 835, 285 flow through units. This transaction will generate gross proceeds of approx $758,469.95.

As quoted in the press release:

The company intends to use the gross proceeds from the sale of the flow-through shares for Canadian exploration expenses, within the meaning of the Income Tax Act (Canada), with the company using its best efforts to ensure that such CEE qualify as a flow-through mining expenditures for purposes of the Income Tax Act, related to the exploration during 2011-2012 of the company’s mineral exploration projects located in British Columbia, Canada.

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