ACCESS Newswire
08 Oct 2019, 03:43 GMT+10
VANCOUVER, BC / ACCESSWIRE / October 7, 2019 / Prophecy Development Corp. ('Prophecy' or the 'Company') (TSX:PCY)(OTC:PRPCF)(Frankfurt:1P2N) announces that it is undertaking a non-brokered private placement (the 'Placement') involving the issuance of 10 million Common Shares of the Company (the 'Shares') at a price of $0.40 per Share to raise aggregate gross proceeds of $4,000,000.
Company management and directors will purchase 400,000 Shares of the Placement.
The Shares will be subject to a minimum hold period of four months plus one day from the date of issue.
Closing of the Placement is expected to occur by October 23, 2019. Finder's fee in connection with the Placement may be payable in Shares or cash. The Placement and finder's fees are subject to the approval of the TSX and other customary closing conditions.
Proceeds of the Placement are expected to be used to develop Prophecy's mineral projects and for general working capital purposes.
About Prophecy
Prophecy is developing Pulacayo silver project in Bolivia and Gibellini vanadium project in Nevada. 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:
+1.604.569.3661 ext. 101
[email protected]
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.
SOURCE: Prophecy Development Corp.
Get a daily dose of Pittsburgh Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pittsburgh Star.
More InformationFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
(Photo credit: Eric Hartline-Imagn Images) Zack Wheeler threw a dazzling one-hitter with 12 strikeouts as the Philadelphia Phillies...
(Photo credit: David Banks-Imagn Images) The Chicago Cubs have been beset by pitching injuries this season, with Jameson Taillon...
(Photo credit: Ron Chenoy-Imagn Images) The Chicago White Sox didn't win their 31st game of 2024 until Aug. 21 en route to setting...
(Photo credit: Bob DeChiara-Imagn Images) As the No. 2 overall pick in the 2024 draft, Cincinnati Reds right-hander Chase Burns certainly...
(Photo credit: John E. Sokolowski-Imagn Images) Addison Barger hit an RBI single with two outs in the 11th inning and the Toronto...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...