Each Unit will consist of one common share in the capital of the
'After careful modelling and analysis, Viva has determined that additional drilling is required to further delineate and expand the new high-grade gold zones discovered in our 2022/23 drilling programs. These new zones were encountered at relatively shallow depths and have a strong potential to add to the high-grade starter pits previously defined in our 2022 PEA(1) study. We strongly believe that this new drilling program will further expand and develop additional gold resources at Tonopah while also helping to reduce project strip ratios by converting undrilled waste material into gold resource to further improve potential project economics. A program has been designed to help accomplish this goal with a plan to drill approximately 22 new holes totaling around 3,000 meters,' stated
Certain insiders of the Company may acquire Shares in the Offering. Any participation by insiders in the Private Placement would constitute a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Shares subscribed for by the insiders, nor the consideration for the Shares paid by such insiders, would exceed 25% of the Company's market capitalization.
The Company may pay finder's fees on a portion of the Offering, subject to compliance with the policies of the
About
2022 PEA: NI43-101 Technical Report, Preliminary Economic Assessment of the
Contact:
Tel: (720) 291-1775
Email: jhesketh@vivagoldcorp.com
Tel: (416) 842-9003
Email: graham.farrell@harbor-access.com
Cautionary Statement Regarding Forward-Looking Information
Certain information contained in this news release constitutes 'forward-looking information' or 'forward-looking statements' (collectively, 'forward- looking information'). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company's business plans, expectations and objectives. In this news release, words such as 'may', 'would', 'could', 'will', 'likely', 'believe', 'expect', 'anticipate', 'intend', 'plan', 'estimate' and similar words and the negative form thereof are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company's profile and on the Company's website, https://vivagoldcorp.com/. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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