Aurvista Gold Arranges C$ 1,100,000 Financing
MONTREAL, QC / ACCESSWIRE / May 3, 2016 / Aurvista Gold Corp. (TSXV: AVA) (OTC: ARVSF) ("Aurvista" or the "Company") has arranged a non-brokered private placement of up to C$ 1,100,000. The Private Placement will consist of up to 6,250,000 flow-through units (the "Flow-Through Units") at a price of C$ 0.08 per Flow-Through Unit for gross proceeds of up to C$ 500,000. Concurrently, the Company will also be offering up to 10,000,000 non flow-through units (the "Hard Units") at a price of C$ 0.06 per Hard Unit for gross proceeds of up to C$ 600,000. The closing is expected shortly.
Each Flow-Through Unit will consist of one flow-through common share and one warrant. Each Hard Unit will consist of one non flow-through common share and one warrant. Each warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of C$ 0.10 per share during the 12 months from the closing date.
All the securities will be subject to a four-month hold period from the date of closing. A finder's fee may be payable in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The private placement is subject to the approval of the TSXV.
The Company intends on using the net proceeds from the private placement to continue advancing the Douay Gold Project and for general corporate purposes.
About Aurvista Gold Corp.
Aurvista Gold Corp. is a junior gold exploration and development company with 69,511,617 shares outstanding trading on the TSX Venture Exchange in Canada and OTC Pink Sheets in the U.S. Aurvista's only asset is the Douay Gold Project totaling 287 claims for 145.3 km2. Of the total, 32 claims for 11.9 km2 form the North West Zone and are in a joint venture with SOQUEM (75% Aurvista, 25% SOQUEM). The project is located along the gold-bearing Casa Berardi Deformation Zone in northern Quebec. Details can be viewed on the Company's website at www.aurvistagold.com
Forward-Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corp.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.
For further information please contact:
Mr. Jean Lafleur, P. Geo.
President and CEO, Director
Cell +1 514 927 3633
Facsimile +1 416 504 4129
Mr. Bryan Keeler
Chief Financial Officer
+1 416 504 4126
NEITHER THE 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 PRESS RELEASE.
SOURCE: Aurvista Gold Corp.
