- Brascan Gold (BRAS) has completed the second tranche of its non-brokered private placement for gross proceeds of $449,330
- The company issued 1,497,767 units at a price of $0.30 per unit
- Proceeds will be used for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland
- Brascan is a Vancouver-based gold exploration company
- Brascan Gold Inc. (BRAS) opened trading at C$0.60 per share
Brascan Gold (BRAS) has completed the second tranche of its previously announced non-brokered private placement.
The company issued 1,497,767 units at a price of $0.30 per unit for gross proceeds of $449,330.
Each unit consists of one share and one-half transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of C$0.40 for a period of two years from closing, expiring January 12, 2024.
Proceeds will be used for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland. The company may pay finder’s fees to eligible parties.
All securities issued will be subject to a four-month statutory hold period.
Brascan announces that Mr. Balbir Johal has been appointed as President and Chief Executive Officer, effective immediately.
Mr. Johal is a member of the board of directors of the company and is a former securities lawyer with over 20 years of experience in the global capital markets.
Brascan is a Vancouver-based gold exploration company. The company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC.
Brascan Gold Inc. (BRAS) opened trading at C$0.60 per share.