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Financings

Viva Gold closes $4.18-million private placement

By The Northwire Desk — AI Analysis Dec 30, 2025 · 18:13 VAU · 0.20 Viva Gold Corp.
VAU · Price

Executive Summary

  • Viva Gold Corp. has closed an oversubscribed non-brokered private placement, raising gross proceeds of $4,183,273.
  • The company issued 26,145,456 units at a price of $0.16 per unit, with proceeds allocated primarily to prefeasibility/feasibility studies and drilling at the Tonopah gold project.
  • Insiders participated significantly in the offering, acquiring over 6.4 million units, while finders received cash fees and warrants.

Key Details

  • Transaction Structure: Non-brokered private placement completed.
  • Units Issued: 26,145,456 units.
  • Price: $0.16 per unit.
  • Gross Proceeds: $4,183,273.
  • Unit Composition: Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.
  • Warrant Terms: Each whole warrant is exercisable to acquire one share at an exercise price of $0.24 per share. Warrants expire on December 29, 2028 (36 months from issuance).
  • Insider Participation: Insiders acquired 6,490,956 units. This constituted a related party transaction exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the value did not exceed 25% of market capitalization.
  • Use of Proceeds:
    • Primary: Prefeasibility/feasibility study work at the Tonopah gold project (technical and environmental studies).
    • Secondary: Geophysical survey and other geologic work, including drilling at Tonopah.
    • Tertiary: General working capital purposes.
  • Finder’s Fees:
    • Cash: $84,154 paid to Canaccord Genuity Corp., Research Capital Corp., Red Cloud Securities Inc., and Haywood Securities Inc.
    • Warrants: 525,962 non-transferable share purchase warrants issued to finders.
    • Finder Warrant Terms: Exercisable at $0.24 per share, expiring December 29, 2028.
  • Regulatory Status: Subject to final approval of the TSX Venture Exchange.
  • Hold Period: Securities are subject to a statutory hold period of four months and one day from the date of issuance.

Notable Quotes

  • "The strong support shown in this financing by both Viva's existing and new shareholders is a vote of confidence in the future of the Tonopah gold project. These funds will allow the company to move aggressively into prefeasibility/feasibility study work and ultimately into permitting, a major catalyst for Nevada mining projects." — James Hesketh, President and CEO
Read the original news release →

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