SOURCE: Broadway Gold Mining Ltd

Broadway Gold Mining Ltd

December 12, 2016 17:36 ET

Broadway Announces Private Placement

VANCOUVER, BC--(Marketwired - December 12, 2016) - Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) ("Broadway" or the "Company") today announced that the Company has agreed to a non-brokered private placement offering for up to 6,000,000 Units at a price of $0.35 per Unit for gross proceeds of up to $2,100,000. Each Unit consists of one (1) common share of the Company (a "Share") and one-half common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Share at a price of $0.75 for a period of two (2) years from the date of issuance. The price of the private placement offering was established under price protection rules of the TSX Venture Exchange and will close on or before December 22, 2016.

Proceeds from the private placement will be used for working capital and to fund a 2017 surface and underground drill program. The Company may pay finder's fees in accordance with TSX Venture Exchange policies.

The private placement is subject to approval of the TSX Venture Exchange.

About Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd. is focused on the development of world-class assets with near-term production potential. The Madison gold and copper project, near Silver Star, Montana in the Butte-Anaconda mining region, provides an exciting opportunity as the area has never been fully exploited or explored. Broadway has identified a series of existing gold and copper zones that remain open for expansion.

Neither the TSX Venture Exchange Inc. 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.

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