Newcore Gold

Prophecy Announces $2,802,000 Private Placement

VANCOUVER, British Columbia--(BUSINESS WIRE)--Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) announces that it is undertaking a non-brokered private placement (the “Placement”) involving the issuance of up to 934,000 units (each a “Unit”) at a price of $3.00 per Unit. Each Unit will consist of one Common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire an additional Share at a price of $4.00 per Share for a period of three years from the date of issuance.

Company management and directors will subscribe for up to $280,200, being the equivalent of up to 93,400 Units of the Placement.

The Company expects to raise gross cash proceeds of up to $2,802,000 to be used to develop Prophecy’s mineral projects and for general working capital purposes.

The Units will be subject to a minimum hold period of four months plus one day from the date of issue. Finder’s fees may be paid in cash, in certain instances in connection with the Placement.

The Placement and payment of any finder’s fees are subject to the approval of the TSX and other customary closing conditions.

About Prophecy

Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock Exchange. The Company aims to provide exposure and leverage to rising vanadium prices by defining and adding attributable vanadium resources in the ground in politically safe jurisdictions.

Further information on Prophecy can be found at www.prophecydev.com.

PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD

“JOHN LEE”
Executive Chairman

For more information about Prophecy, please contact Investor Relations:

+1.888.513.6286
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.prophecydev.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Prophecy’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Prophecy’s forward-looking statements. Prophecy believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Prophecy has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Prophecy undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law. 

GET DAILY NEWS FLOW

Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

Silver Elephant Mining

Last Trade: C$0.40
Daily Volume: 248,717
Market Cap: C$80.220M
Silver Elephant's Sunawayo Drills 3 Meters of 421g/t Silver, Multiple Intercepts over 100g/t AgEq
Silver Elephant's Greenfield Silver Discovery: Sunawayo's SWD001 Drills 137 meters of 36 g/t Silver Starting from 0 meters Depth; SWD002 Drills 31m of 67 g/t AgEq
Silver Elephant Mining Completes Acquisition of Minago Nickel Sulphide Project in Thompson Nickel Belt Manitoba, Canada
Silver Elephant Mining Closes $3,750,000 Private Placement Offering
Silver Elephant Mining Announces Private Placement Offering of Up To 10,000,000 Common Shares for Gross Proceeds of Up To $3,750,000
Silver Elephant Mining Named to 2021 OTCQX Best 50
Silver Elephant Mining New Discovery: Drill Intercept 4.0 Meters Grading 393 g/t Silver, 3.79% Lead, 0.88% Zinc (518 g/t AgEq) at Pero Target Within Pulacayo Project
Silver Elephant Mining Signs Definitive Agreement to Acquire Minago Nickel Project in Thompson Nickel Belt Manitoba, Canada
Silver Elephant Mining Commences 2,300 meter Maiden Sunawayo Drilling Program in Bolivia
Silver Elephant Mining Completes 940m Drilling Program at the Pero Target within Pulacayo Project, Assays Pending
Silver Elephant Mining Intercepts 66 Meters of Mineralization Grading 75 g/t Silver Equivalent in New Discovery Zone at Paca
Silver Elephant Mining: First El Triunfo Drill Hole Intercepts 48.9 Meter Mineralization Grading 1.45 g/t Gold Equivalent (0.42 g/t Gold, 35.5 g/t Silver, 1.17% Zinc, and 0.83% Lead) within 98.9 Meters Grading 1.04 g/t AuEq

KUYA SILVER (CSE: KUYA)

Kuya Silver

Kuya Silver is a newly listed silver mining company earning a 100% interest in the Bethania silver mine located in central Peru. The Company is executing an aggressive growth strategy through exploration and development and has plans to... LEARN MORE