11:23 AM EDT, 05/09/2025 (MT Newswires) -- Bravada Gold ( BGAVF ) on Friday said it plans to raise up to $0.99 million in a private placement of share units.

The company said it will look to place up to 33-million units in the financing, with each priced a $0.03 and made up of a share and a three-year warrant to buy a second share for $0.05. Bravada will also make provision for an over-allotment option to allow a purchase of up to 10% additional units.

Proceeds will be used to conduct a pre-feasibility study of the Wind Mountain gold/silver deposit in Nevada and will also cover Annual Federal claim-holding fees, and general working capital.

"The company believes a dramatic increase in precious metal prices and a more favourable permitting environment in the U.S. justify advancing Wind Mountain to the PFS stage," said Bravada Gold ( BGAVF ) President Joe Kizis.

Brava shares were last seen down $0.005 at $0.03 on the TSX Venture Exchange.

Price: 0.03, Change: -0.01, Percent Change: -14.29