Bravada Announces Consolidation; Updates PFS Status at Wind Mountain
Rhea-AI Summary
Bravada (OTC:BGAVF) announced an 8-for-1 share consolidation, reducing issued common shares from 229,262,645 to approximately 28,657,771. Consolidated trading will begin on the TSX Venture Exchange on March 2, 2026 with new CUSIP 10567D303 and ISIN CA10567D3031.
The consolidation is intended to boost investor interest, improve trading liquidity and facilitate future financing, and is subject to TSXV approval. Management also updated the Wind Mountain PFS program: multiple independent studies are underway to convert a small in-pit Inferred Resource to Indicated and potentially to Probable Reserve pending a successful PFS.
Positive
- 8-for-1 consolidation reduces shares to ~28.66M outstanding
- Consolidation aims to improve trading liquidity and investor interest
- PFS work underway (mine planning, metallurgy, archaeology, biology, hydrology, resource evaluation)
Negative
- Consolidation subject to TSXV approval
- Shareholders must surrender pre-consolidation certificates for replacement certificates
- Resource conversion to Probable Reserve contingent on a successful PFS
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2026) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) ("Bravada" or the "Company") reports that board of directors of the Company has recommended and authorized a consolidation of the Company's outstanding common shares on the basis of eight (8) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation"). There are currently 229,262,645 common shares issued and outstanding and, upon completion of the Consolidation, there will be approximately 28,657,771 common shares issued and outstanding.
On March 2, 2026, the Company's shares will commence trading on a consolidated basis on the TSX Venture Exchange with new CUSIP 10567D303 and ISIN CA10567D3031. The Company's name will not be changed in connection with this Consolidation.
The Company's management believes that the Consolidation will result in greater investor interest, improved trading liquidity and will facilitate future financing of the Company. The Company will send shareholders a letter of transmittal when the Consolidation has taken effect instructing shareholders to surrender the certificates evidencing their pre‐Consolidation common shares for replacement certificates representing post‐Consolidation common shares. The Consolidation is subject to TSX Venture Exchange approval.
Status of the Wind Mountain PFS Study
President Joe Kizis provides an update on the PFS program for the Wind Mountain project in northwestern Nevada, "Subsequent to our Resource Update in September 2025, we have arranged for several independent contractors to conduct updated studies necessary for the PFS, and ultimately for renewed mine permitting. Underway or expected to begin over the coming months includes mine planning and design, metallurgy, archaeology, biology/wildlife, hydrology, and detailed resource evaluation to convert the small amount of In-pit Inferred Resource to Indicated Resource, which could be converted to Probable Reserve by a successful PFS. Being a past-producing open-pit/heap-leach mining operation, and having been successfully reclaimed, there is a large amount of historic data to be drawn upon to reduce costs compared to a virgin deposit."
About Bravada
Bravada is a long-established exploration and development company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Utilizing a modified joint-venture business model, Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA study conducted in 2022 on a Phase I portion of the Wind Mountain deposit, and additional Phases are being evaluated for the project as part of an ongoing Pre-Feasibility Assessment. In addition, the Company has significant upside potential from possible new discoveries at its other exploration properties.
Since 2005, the Company has signed 33 earn-in joint-venture agreements for its properties with 20 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has eight projects in its portfolio, consisting of 782 claims for approximately 6,329 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed.
Several videos are available on the Company's website that describe Bravada's major properties, answering investors commonly asked questions. Simply click on this link:
https://bravadagold.com/projects/project-videos/.
On behalf of the Board of Directors
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at bravadagold.com; or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements in this news release include plans to complete the Consolidation and the anticipated effective date thereof as well as completion of the PFS. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. These statements are based on a number of assumptions including, among other things, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; that all conditions precedent to the completion of Consolidation will be satisfied in a timely manner; and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285017
FAQ
What is Bravada's (BGAVF) share consolidation ratio and effective date?
How will the BGAVF consolidation affect shareholders' certificates and holdings?
Is the Bravada (BGAVF) consolidation final or does it need approval?
What PFS work is Bravada doing at Wind Mountain (BGAVF) and why?
Does the Wind Mountain PFS guarantee resource conversion to Probable Reserve for BGAVF?
Will Bravada (BGAVF) change its corporate name after the consolidation?
