Participants Include Tocqueville Asset
Management L.P and AngloGold Ashanti (U.S.A) Exploration Inc.
TSX: KOR OTCQX: CORVF
VANCOUVER, Feb. 27, 2015 /CNW/ - Corvus Gold Inc.
("Corvus" or the "Company") - (TSX: KOR, OTCQX: CORVF) announces
the closing of a CAN $4,500,000
non-brokered private placement. Pursuant to the financing the
Company issued 4,500,000 common shares at a price of CAD
$1.00 per share. Insider participants
in the private placement include Tocqueville Asset Management L.P.
and AngloGold Ashanti (USA)
Exploration Inc. two of the Company's largest and long term
shareholders. Full transaction details can be found on SEDI
(www.sedi.ca).
Jeff Pontius, Corvus Gold CEO
states "The closing of this financing on terms that minimize
shareholder dilution in a challenging market highlights the
confidence and commitment of our major shareholders. The
proceeds will fully fund Corvus Gold's proposed 2015 exploration
program which will be targeting additional Yellowjacket type
deposits throughout the District. Exploration over the past
year has identified numerous favourable structural targets which
are similar to the high-grade Yellowjacket and historic Bullfrog
vein systems. The initial phase of exploration drilling will
begin in Q2 of this year. The positive results from the 2014
drilling program and the District exploration program have provided
encouragement for the discovery of multiple veins and for the North
Bullfrog project to develop into a new Nevada high-grade District."
The Company has determined that there are exemptions available
from the various requirements of Multilateral Instrument 61-101 for
the issuance of any securities to insiders. There is no change of
control as a result of the Offering.
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, including
the United States, in which such
offer, solicitation or sale would be unlawful.
On behalf of
CORVUS GOLD INC.
(signed) Jeffrey A.
Pontius
Jeffrey A.
Pontius,
Chairman and Chief Executive Officer
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 and the Private Placement and the prospects
of the North Bullfrog Project developing into a new Nevada high-grade District by the Company 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 readers are urged
to review these materials, including the technical
reports filed with respect to the Company's mineral
properties.
This news release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States.
SOURCE Corvus Gold Inc.