Viva Gold Increases The Size Of The Previously Announced Private Placement Offering

Viva Gold Corp. announced on December 16, 2025, that it has increased the size of its previously announced non-brokered private placement following strong investor interest. The offering is now for up to C$4.0 million, an increase from the C$3.0 million announced on December 11, 2025.

The terms of the offering remain unchanged, with units priced at C$0.16. Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to purchase an additional common share at C$0.24 for 36 months. Proceeds will be used to advance technical and environmental studies for feasibility-level work at its Tonopah Gold Project in Nevada, as well as for general working capital.

Viva Gold Corp. (VAU) raised C$4 million in a financing round priced at C$0.16 per share, a level above the post-Preliminary Economic Assessment (PEA) lows of C$0.08 and higher than the C$0.13 price of its last financing in April 2025. The upsizing indicates that investor demand exceeded the company's initial target, providing a crucial vote of confidence from the market following the poorly-received PEA in July 2025, which saw the stock price fall by over 50%.

The financing addresses a critical short-term risk: the company's dwindling cash position. As of the last financial report on July 31, 2025, Viva had less than C$1 million in cash with a quarterly burn rate of approximately C$700,000. This C$4 million infusion provides the necessary runway, estimated at over 12 months depending on feasibility study expenditures, to complete the work needed to de-risk the project.

The core challenge remains the project's economics as outlined in the PEA: a very high initial capital expenditure of US$220 million and a marginal after-tax IRR of 17.6%. This financing buys the company a chance to prove, via a feasibility study, that it can substantially improve those numbers. The success of that effort will be the true catalyst.

Viva Gold Corp. is a Canadian gold exploration and development company focused on its 100%-owned flagship asset, the Tonopah Gold Project. Located on the prolific Walker Lane Trend in Nevada, USA, the project is at an advanced exploration stage, having recently completed a Preliminary Economic Assessment (PEA) in July 2025. The company is now advancing the project towards a feasibility study and permitting.

The PEA outlined a conventional open-pit mining operation with a combination heap leach and mill processing facility. The property is subject to a 2% Net Smelter Royalty (NSR), of which the company can purchase 1% for US$1.0 million.