VANCOUVER, British Columbia, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Levon Resources Ltd. (TSX:LVN) (“Levon” or “the Company”) is pleased to announce a non-brokered private placement for C$800,000 (the “Placement”) through the issuance of units of the Company (“Units”) at a price of C$0.35 per Unit. Each Unit will consist of one common share and one half of a share purchase warrant, with each whole warrant (a "Warrant") entitling the holder to acquire one common share of the Company at a price of C$0.50 per common share for a period of two years from the closing of the Placement.
The Placement will result in the issuance of 2,285,714 common shares of the Company and 1,142,857 Warrants. Proceeds will be utilized for corporate costs and working capital.
The Company expects to close the Placement on or around February 2, 2018, subject to TSX approval. Securities sold pursuant to the Placement will be subject to a four month resale hold under applicable Canadian securities laws.
About Levon Resources Ltd.
Levon is a gold and precious metals exploration Company, exploring the company's 100% owned flagship Cordero bulk tonnage silver, gold, zinc, and lead project near Hidalgo Del Parral, Chihuahua, Mexico.
