Montreal, Quebec - January 25, 2013, Aurvista Gold Corporation. ("Aurvista" or the "Corporation") (TSX-V: AVA) announces that it has completed the last portion of its previously announced private placement. The last portion of its private placement was nonbrokered and was for units (the "Offering") consisting of common shares and warrants as described in its October 24, 2012 press release. Under this final closing, Aurvista issued 520,000 units consisting of common shares and 260,000 warrants for aggregate proceeds of $130,000. The common shares, warrants and securities issuable upon the exercise thereof may not be traded until May 26, 2013.
Under the Offering, each unit consists of one common share and one-half of one common share purchase warrant. Each unit is being offered at a price of $0.25 per unit (the "Offering Price"). Each whole warrant entitles the holder to purchase one common share at a price of $0.40 per common share at any time for two years.
The gross proceeds of the Offering, after deducting the expenses of the Offering, will be used for working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from the 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 securities in any State in which such offer, solicitation or sale would be unlawful.
About Aurvista Gold
Aurvista Gold Corporation is a junior gold exploration and development company. Aurvista's principal asset is the Douay Gold Project, consisting of 298 contiguous claims totalling approximately 12,704 hectares located on the Casa Berardi Fault in northern Quebec. The Douay Project contains a NI 43-101 compliant Mineral Resource of 114,652,000 million tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and Indicated category, at a cut-off of 0.3 g/t gold.
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 Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
For further information:
Aurvista Gold Corp.
Richard Adams, President and CEO
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.
Leave a comment...