Bravada Corporate Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/23/12 -- Bravada Gold Corporation (TSX VENTURE: BVA)(FRANKFURT: BRT) ("Bravada") reported that the following directors were re-elected at Bravada's annual general meeting held on March 21, 2012: Joseph A. Kizis, Jr., Lawrence Page, Q.C., Terrence Eyton, Richard Hughes, Michael Rowley, Paul Dircksen, G. Ross McDonald, John Kerr and Scott Hean.
In addition, the shareholders approved Bravada's rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance.
Bravada also reported that the shareholders have approved a Shareholder Right Plan at its annual general meeting. The Shareholder Rights Plan was adopted to ensure the fair treatment of all Bravada shareholders in the event of an unsolicited take-over bid for the outstanding common shares of Bravada. In the event that a take-over bid should occur, the Shareholder Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess it without facing undue pressure or coercion. The Shareholder Rights Plan also provides the board of directors with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. Accordingly, the Shareholder Rights Plan is not designed to prevent take-over bids that treat Bravada's shareholders fairly.
A copy of the Shareholder Rights Plan Agreement will be available under Bravada's profile on SEDAR at www.sedar.com. Reference should be made to the full text of the plan for the details of its provisions. The Shareholder Rights Plan has received TSX Venture Exchange acceptance.
About Bravada Gold Corporation
Bravada Gold Corporation is a member of the Manex Resource Group of companies with an exploration office in Reno, Nevada from which it is exploring its extensive Carlin-type and low-sulfidation-type gold holdings, which are strategically located within the numerous productive gold trends in Nevada. Bravada is self-funding its Wind Mountain property towards near-term production, and is advancing its other properties with a combination of self funding and partner funding. Bravada also holds the Drayton Archean gold property in Ontario. Currently three of Bravada's 21 Nevada properties are being funded by partners. Bravo Gold Corp. (BVG.V) owns 9.76% of Bravada's 114,264,282 outstanding common shares.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis Jr., President and Director, Bravada Gold Corporation
For further information, please visit Bravada's website at www.bravadagold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bravada Gold Corporation
Liana Shahinian
604-641-2773 or Toll Free: 1-888-456-1112
liana@mnxltd.com
www.bravadagold.com
