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

Bravo Venture Group Inc.

November 04, 2009 15:47 ET

Bravo Completes Second Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2009) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the previously announced non-brokered common share unit placement and flow-through private placement have been completed. The company has closed the second tranche of the private placement consisting of 5,915,000 flow-through units and 287,079 non flow-through units for C$3,086,686, bringing the total raised to 11,000,000 flow-through units and 6,350,000 non flow through units for a total of C$8,407,500.

Flow-through Units:

Each flow-through unit issued in the second 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 finder's fees, carry a legend restricting the shares from trading for a period of four months which expires on March 04, 2010.

Common share units:

Each "common share unit" issued in the second 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 finder's fees, carry a legend restricting the shares from trading for a period of four months which expires on March 04, 2010.

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

  • Bravo Venture Group Inc.
    Jeff Stuart
    1-888-456-1112 or 604-684-9384
    or
    Bravo Venture Group Inc.
    Ran Davidson
    1-888-456-1112 or 604-684-9384
    corpdev@mnxltd.com
    bravoventuregroup.com