Mr. John Lee reports
PROPHECY ANNOUNCES $2,600,000 PRIVATE PLACEMENT
Prophecy Development Corp. is undertaking a non-brokered private placement involving the issuance of 13 million common shares of the company at a price of 20 cents per share to raise aggregate gross proceeds of $2.6-million.
Company management and directors will subscribe to two million shares of the placement.
The shares will be subject to a minimum hold period of four months plus one day from the date of issue. Finders' fees may be paid in cash or shares, in certain instances in connection with the placement.
Closing of the placement is expected to occur by Sept. 15, 2019. The placement and payment of any finders' fees are subject to the approval of the Toronto Stock Exchange and other customary closing conditions.
Proceeds of the placement are expected to be used to develop Prophecy's mineral projects and for general working capital purposes.
About Prophecy Development Corp.
Prophecy is developing Pulacayo silver project in Bolivia and Gibellini vanadium project in Nevada.
We seek Safe Harbor.
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