Montreal, Quebec - January 8th, 2013, Aurvista Gold Corporation ("Aurvista" or the "Corporation") (TSX-V: AVA) announces that it has completed its non-brokered private placement of flow-through shares. The final tranche closed on December 31st 2012. The Offering (the "Offering") was priced at $0.30 per flow-through common share. Under this closing, Aurvista issued 433,333 common shares for aggregate gross proceeds of $130,000 bringing the total gross proceeds of the Offering to $1,224,999. The Corporation continues to pursue interested parties further to its previously announced hard dollar financing. Cash balances of the Corporation as at the date of issue of this Press Release is $3,131,593. The flow-through common shares issuable upon the exercise thereof are subject to a (4) month hold period.
The gross proceeds of the Offering, after deducting the expenses of the Offering, will be used to incur exploration expenditures as part of the 2013 drilling program on the Corporation's Douay Project situated in the Province of Quebec. Aurvista will issue a Press Release giving a detailed description of each element of the drilling program following finalization of the plan and budget.
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 cold) 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.
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