This morning, most investors are going to focus on those companies that may have made key announcements this past Friday, and by that token, it is likely that Bravada Gold Corporation (OTC:BGAVF) could come into focus in a big way. The company hit the news cycle on April 12 after it was announced that it had decided to extend the exercise period for an aggregate of 34,390,000 share purchase warrants, which would all be exercisable for $0.10 a share.
Bravada Gold Corporation had issued the shares on April 28, 2022, through a private placement and was supposed to expire on April 28, 2024. The company announced that it had proposed an extension of the expiration date by a year, and hence, the new expiration date of the warrants would be April 28, 2025. However, there was no other change to the terms and conditions of the warrants. The extension of the warrants was, however, subject to approval from the TSX Venture Exchange.
The President of Bravada Gold Corporation, Joe Kizis, spoke about the move from the company at the time as well. He noted that the market conditions had been particularly challenging for small-cap junior explorers in the precious metals sector, like Bravada Gold Corporation, in the past few years. Hence, the company had decided to make adjustments through a bigger focus on holding on to its important property positions.
Concurrently, the company was also focused on having exploration activities at a lower cost that would boost exploration drill targets. Kizis noted that the conditions of the market were improving gradually, and hence, it was in the best interests of the loyal shareholders for the exercise period to be extended. Due to the move, it would be possible for the warrant holders to benefit from a potential bull market in the industry.
