Bravada Closes Non-Brokered Private Placement

Executive Summary

• Bravada Gold Corporation has closed its previously announced non-brokered private placement, issuing 285,715 common shares at $0.70 per share to raise approximately $200,000.
• All shares were purchased by Dr. Paul West-Sells, who was recently appointed as the Company's President & Chief Executive Officer.
• The transaction is structured as a related party transaction under Multilateral Instrument 61-101, with the Company relying on specific exemptions from valuation and minority shareholder approval requirements.

Key Details

• Structure & Quantity: Non-brokered private placement of 285,715 common shares
• Price & Proceeds: $0.70 per share; gross proceeds of $200,000.50
• Buyer: Dr. Paul West-Sells (newly appointed President & CEO)
• Hold Period: Shares are subject to a hold period expiring on October 23, 2026
• Use of Proceeds: General working capital
• Regulatory Status: Subject to final approval of the TSX Venture Exchange
• Compliance & Exemptions: Classified as a "related party transaction" under MI 61-101; relying on exemptions from valuation and minority shareholder approval requirements per sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation does not exceed 25% of the Company's market capitalization.