Date: Nov 23, 2018

Prophecy Development Corp. (“Prophecy” or the “Company“) (TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2N) is pleased to announce that it has closed its previously announced bought deal financing for aggregate gross proceeds of C$5,520,000 (the “Offering“). BMO Capital Markets (the “Underwriter“) purchased, on a bought deal basis, 12,000,000 common shares of the Company (the “Common Shares“) at a price of C$0.46 per Common Share.

The net proceeds of the Offering will be used to continue exploration and advance development and permitting of the Company’s Gibellini Vanadium Project and for general corporate purposes.

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