Mr. John Lee reports
PROPHECY ANNOUNCES $4,000,000 PRIVATE PLACEMENT
Prophecy Development Corp. is undertaking a non-brokered private placement involving the issuance of 10 million common shares of the company at a price of 40 cents per share to raise total gross proceeds of $4-million.
Company management and directors will purchase 400,000 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.
Closing of the placement is expected to occur by Oct. 23, 2019. Finder's fees in connection with the placement may be payable in shares or cash. The placement and finder's 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 the Pulacayo silver project in Bolivia and the Gibellini vanadium project in Nevada.
We seek Safe Harbor.
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