Corvus Gold (KOR-T) Feb 27, '15 announces the closing of a CAN $4,500,000 non-brokered private placement. Pursuant to the financing the Company issued 4,500,000 common shares at a price of CAD $1.00 per share. Insider participants in the private placement include Tocqueville Asset Management L.P. and AngloGold Ashanti (USA) Exploration Inc. two of the Company’s largest and long term shareholders. Full transaction details can be found on SEDI ( www.sedi.ca ).
Jeff Pontius, Corvus Gold CEO states “The closing of this financing on terms that minimize shareholder dilution in a challenging market highlights the confidence and commitment of our major shareholders. The proceeds will fully fund Corvus Gold’s proposed 2015 exploration program which will be targeting additional Yellowjacket type deposits throughout the District. Exploration over the past year has identified numerous favourable structural targets which are similar to the high-grade Yellowjacket and historic Bullfrog vein systems. The initial phase of exploration drilling will begin in Q2 of this year. The positive results from the 2014 drilling program and the District exploration program have provided encouragement for the discovery of multiple veins and for the North Bullfrog project to develop into a new Nevada high-grade District.”
The Company has determined that there are exemptions available from the various requirements of Multilateral Instrument 61-101 for the issuance of any securities to insiders. There is no change of control as a result of the Offering.
The foregoing securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the foregoing securities in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful.
On behalf of
CORVUS GOLD INC.
(signed) Jeffrey A. Pontius
Jeffrey A. Pontius,
Chairman and Chief Executive Officer
Contact Information: Ryan Ko
Investor Relations
Email: info@corvusgold.com
Phone: 1-888-770-7488 (toll free) or (604) 638-3246/Fax: (604) 408-7499
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