Home Energy & Mining BRAVURA VENTURES C COM NPV (OTCMKTS:BRVVF) Private Placement Closed


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BRAVURA VENTURES C COM NPV (OTCMKTS:BRVVF) has announced that its non-brokered private placement has been closed. 12 million units closed at $0.25 cents per unit and gross proceeds amounted to $3 million. The overallotment option has been exercised and this has allowed to company to place an extra 50% in financing. Shares of Bravura Ventures Corp closed UP 2.91% to end the trading day.

Every unit equals one common share and ½ of a warrant for one common share. Accelerated expiry provisions are applied to each warrant. The brokers’ fee is 7% of gross proceeds. Net proceeds will be used by Bravura Ventures for purposes of property acquisitions and general working capital.


Rabbit Cobalt Property

Last month BRAVURA VENTURES C COM NPV (OTCMKTS:BRVVF) announced that it had acquired Rabbit Cobalt Property in Cobalt, Ontario, Canada, measuring approximately 1000 hectares and 65 claim units.

“With the majority of cobalt coming out of the Democratic Republic of Congo to have a plot of land in a stable political environment with great exploration potential, is a very exciting…” said Greg Burns, the chief executive officer of Bravura Ventures.

The Rabbit property is located near Ontario’s eastern border in a district which is known for being mining-friendly and possesses a rich history in the production of silver and cobalt. Access to the property from highway 11 is through a seven-kilometer stretch of gravel surface road. The Rabbit property is also ten kilometers away from a railroad. Power distribution lines are just five kilometers away.

Bravura Board of directors

Late last month the board of BRAVURA VENTURES C COM NPV (OTCMKTS:BRVVF) had been anticipating that the private placement would be oversubscribed. Besides Greg Burns, other members of the board of the company include Quinn Field-Dyle, Ken Tollstam, Von Torres and Jerry Huang.

Burns has years of experience in the mining industry and includes having been Xenolith’s managing director. Xenolith has since then been renamed Coalspur Mines Ltd. Burns has also served on the board of White Canyon Uranium prior to the acquisition of the firm by Denison Mines seven years ago. Other mining firms Burns has worked for in senior roles include Platinum Australia, Adamus Resources and Goldstream Mining.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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