Nevado Resources Announces Non-Brokered Private Placement
Vancouver, August 14, 2020 - Nevado Resources Corp. (NEX: VDO.H) ("Nevado" or the "Company") announces that it intends to complete a non-brokered private placement (the "Private Placement") of up to 4,000,000 units (each a "Unit") at a price of $0.10 per Unit for gross proceeds of up to $400,000. The Company intends to use the net proceeds from the Private Placement to reduce corporate debt and to finance the Company's ongoing review of prospective projects.
Each Unit will consist of one (1) common share in the capital of the Company (each a "Common Share") and one (1) transferrable Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.20 per Common Share until the date which is one (1) year from the date of closing.
All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
On behalf of the Board of Directors,
Nevado Resources Corp.
Mr. Tyson King, President and CEO
For further information, please contact the Company at:
Leah Hodges, Corporate Secretary
Tel.: (604) 377-0403
Email: lhodges@benchmarkgovernance.com
Reader Advisory
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
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