Toronto, Ontario--(Newsfile Corp. - July 25, 2016) - Cava Resources Inc. (TSXV: CVA) ("Cava" or, the "Company") announces that the Company has completed a private placement financing of 750,000 units at an issue price of $0.20 per unit for gross proceeds of $150,000. Each unit is comprised of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable into a common share at an exercise price of $0.40 per share for a period of 24 months.
Proceeds from the financing will be used to advance the Company's Casa Berardi property, to evaluate other resource property opportunities and for general corporate purposes.
All securities issued in connection with the private placement are subject to a hold period of four months and a day. The private placement is subject to final approval of the TSX Venture Exchange.
For further information contact:
R. Brian Murray,
John V. Hickey,
The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.