Bravo Venture Group Inc.
TSX VENTURE : BVG
FRANKFURT : B6I

Bravo Venture Group Inc.

October 29, 2009 12:07 ET

Bravo $8.6 Million Private Placements Completed; First Tranche Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURTL:B6I) reported today that the previously announced non-brokered common share unit placement and flow through private placements have been completed. The company has closed a first tranche of the private placement consisting of 5,185,000 flow-through units and 6,062,921 non flow-through units for C$5,320,814.

Flow-through Units:

Each flow-through unit issued in the first tranche consists of one common flow-through share priced at $0.50 per share and one-half non flow-through share purchase warrant, with one whole warrant exercisable to purchase one common share at a price of $0.60 per share, for a period of two years.

The proceeds from this placement will fund continuing exploration at the Homestake Ridge project in NW British Columbia. All the common shares issued pursuant to this unit offering, including share purchase warrants and warrants issued as finders fees, carry a legend restricting the shares from trading for a period of four months which expires on February 28, 2010.

Common share units:

Each brokered "common share unit" issued in the first tranche consists of one common share priced at $0.45 per share and one share purchase warrant exercisable to purchase one common share at a price of $0.50 per share, for a period of two years. All the common shares issued pursuant to this unit offering, including share purchase warrants and warrants issued as finders fees, carry a legend restricting the shares from trading for a period of four months which expires on February 28, 2010.

Second Tranche:

The second tranche consisting of 6,415,000 flow-through units and 287,079 non flow-through units for C$3,336,686 is scheduled to close on November 4, 2009 and will complete the financing for gross proceeds to Bravo of $8,657,500.

The offering is subject to the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. Applicable finder's fees of six percent in cash and six percent "brokers warrants" also are subject to regulatory approval.

About Bravo Venture Group Inc.

Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced "Plan of Arrangement", Bravada Gold Corp. will focus on exploring Bravo's extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada.

On behalf of the Board of Directors

Joseph A. Kizis Jr., Director, President, Bravo Venture Group, Inc.

Neither 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 release.

Contact Information