VANCOUVER, July 18, 2016 /CNW/ - Corvus Gold Inc. ("Corvus"
or the "Company") - (TSX: KOR, OTCQX: CORVF) announces the closing
of a CAD $2,601,000 non-brokered
private placement (the "Private Placement") at CAD $1.02 per share. Pursuant to the Private
Placement, the Company issued 2,550,000 common shares with no
warrant, representing approximately 2.8% of the outstanding Corvus
common shares. The common shares issued in the Private
Placement are subject to a hold period which expires on
January 26, 2017. The sole
participant in the Private Placement is Osisko Mining Inc. (TSX:
OSK). Proceeds from the Private Placement are expected to
accelerate the Company's North Bullfrog exploration program in 2016
and beyond.
Jeffrey Pontius, Corvus' CEO
states "Corvus is very pleased to be adding the Osisko group to our
shareholder register. The additional funding will be used to
accelerate the exploration program at our North Bullfrog project
where recent results have been encouraging. The Osisko group
has had a long history of recognizing quality investment
opportunities and we are pleased they have chosen to invest with
the Corvus team as we work to deliver the next major Nevada gold deposit."
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,
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 private placement 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.