Participant Include: Resource Capital Fund VI
L.P.
TSX: KOR OTCQX: CORVF
VANCOUVER, Sept. 2, 2015 /CNW/ - Corvus Gold Inc.
("Corvus" or the "Company") - (TSX: KOR, OTCQX: CORVF) announces
the closing of a CAD $2,000,000
non-brokered private placement priced at market based on the 5-day
volume weighted average price ending August
28, 2015 of CAD $0.47. Under
the terms of the agreement, the Company issued 4,255,320 common
shares with no warrant and with a 6-month hold period to Resource
Capital Fund VI L.P. ("Resource Capital Fund VI"), representing
approximately 5% of the Company's outstanding common shares.
With the completion of this financing, Resource Capital Fund VI
joins the growing list of other major long-company long-gold Corvus
shareholders.
Jeff Pontius, Corvus Gold CEO
states "Bringing Resource Capital Fund VI into the Corvus family of
major long-term investors is a significant accomplishment as it
continues to build the depth of our shareholder base. In
addition the vote of confidence that this brings to the Company and
its projects is substantial, particularly in the challenging
markets that junior explorers face today. The proceeds from
this financing will give the Company added flexibility to act
decisively on exploration success from its ongoing drilling program
well into 2016. Driven by the strong results from the
Company's recent North Bullfrog PEA study and new exploration
discoveries in the large and untested Eastern portion of the North
Bullfrog area, Corvus is rapidly building what could be a new
Nevada high-grade gold
District."
No insiders participated in the private placement, and there is
no change of control, as a result of the Offering. The hold period
on the shares issued will expire on March 2,
2016.
The foregoing securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"1933 Act") or any applicable state securities laws and may not be
offered or sold in the United
States or to, or for the account or benefit of, U.S. persons
(as defined in Regulation S under the 1933 Act) or persons in
the United States absent
registration or an applicable exemption from such registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the foregoing securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
On behalf of
CORVUS GOLD INC.
(signed) Jeffrey A.
Pontius
Jeffrey A.
Pontius,
Chief Executive Officer & President
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements
of historical fact, included herein including, without
limitation, statements regarding the proposed use of the proceeds
of the Offering, the proceeds being used to add flexibility
to the ongoing drilling program into 2016, the possibility of the
North Bullfrog area being a new Nevada high-grade gold District are
forward-looking statements. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements
are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or
are those, which, by their nature, refer to future events. The
Company cautions investors that any forward-looking statements by
the Company are not guarantees of future results or performance,
and that actual results may differ materially from those in
forward-looking statements as a result of various factors,
including, but not limited to, those risks and uncertainties
disclosed in the Company's latest interim Management Discussion and
Analysis filed with certain securities commissions in Canada and other information released by the
Company and filed with the appropriate regulatory agencies. All of
the Company's Canadian public disclosure filings may be accessed
via www.sedar.com and and the Company's
United States public disclosure
filings may be accessed via www.sec.gov and
readers are urged to review these materials, including
thetechnical reports filed with respect to the Company's
mineral properties.
SOURCE Corvus Gold Inc.