- Brascan Gold (BRAS) has closed its private placement for aggregate gross proceeds of $650,170
- The company issued 1,226,735 flow-through units at $0.53 per FT unit
- Proceeds will be used to fund further exploration at the company’s properties in Newfoundland
- Brascan is a Vancouver-based gold exploration company
- Brascan Gold Inc. (BRAS) opened trading at C$0.40 per share
Brascan Gold (BRAS) has closed its private placement for aggregate gross proceeds of $650,170.
The company issued 1,226,735 flow-through units at $0.53 per FT unit. Each FT unit consists of one common share, issued on a flow-through basis and one-half of one common share purchase warrant. Each whole warrant is exercisable for one share at $0.75 for two years.
Finder’s fees of $44,000 and 83,018 finder’s warrants were issued in connection with the private placement.
Proceeds will be used to fund further exploration at the company’s Black Cat and Middle Arm properties located in Newfoundland. All securities issued are subject to a four-month hold period.
Brascan Gold is a Vancouver-based gold exploration company engaged in the exploration and development of mineral resources.
Brascan Gold Inc. (BRAS) opened trading at C$0.40 per share.