VANCOUVER, British Columbia, March 29, 2019 (GLOBE NEWSWIRE) -- Nevado Resources Corporation (“Nevado” or the “Company”) (NEX: VDO.H) is pleased to announce that the non-brokered private placement previously announced (see press releases dated March 12, 2019 and February 22, 2019) (the “Private Placement”) has closed. Under the Private Placement, the Company issued an aggregate of 3,100,000 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of $310,000. Each Unit was comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) transferrable Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at price of $0.12 per Common Share until March 29, 2020.
All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring July 30, 2019.
The Company intends to use the net proceeds from the Private Placement to reduce corporate debt and to finance the Company's ongoing review of prospective projects.
On behalf of the Board of Directors,
Nevado Resources Corporation
Mr. Tyson King, President and CEO
For further information, please contact the Company at:
Tel.: (604) 683-3396
Email: tking@nevadoresources.com
Reader Advisory
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the closing of the Private Placement, use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, the Company’s ability to close the Private Placement, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the NEX nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.