The Prospector News

Balmoral Closes Second and Final Tranche of Private Placement for Aggregate Gross Proceeds of $2.1 Million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email
Choose a PDF page to share:

Balmoral Closes Second and Final Tranche of Private Placement for Aggregate Gross Proceeds of $2.1 Million

 

 

 

 

 

Balmoral Resources Ltd. (TSX:BAR)  has now closed the second and final tranche of the previously announced (see NR19-04 dated March 8, 2019 and NR19-05 dated March 15, 2019) non-brokered private placement. Upon closing of the second tranche of the Offering, the Company issued 2,432,856 units at a price of $0.14 per Unit, for gross proceeds of $340,599.84. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 for a period of 18 months from today’s closing. Insiders of the Company purchased 290,000 Units. Aggregate gross proceeds from the first and second tranche closings of the Offering totaled $2,131,503.90.

 

The common shares and warrants issued in the second tranche will be subject to a four month and one day hold period from the date of closing of the second tranche of the Offering under applicable securities laws in Canada.

 

The net proceeds from the sale of the Units issued in the second tranche will be used for exploration of the Company’s properties, principally those in Quebec, and/or general working capital purposes.

 

The Company paid a total of $12,000 in administration fees upon closing of the second tranche. No Finders Fees were paid in conjunction with the closing of the second tranche of the Offering.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

 

About Balmoral Resources Ltd.

 

Balmoral is a multi-award winning Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The Company’s flagship, 1,000 km2 Detour Gold Trend Project hosts the resource stage Bug and Martiniere West gold deposits and the Grasset nickel-copper-cobalt-PGE deposit. Employing a drill focused exploration style in one of the world’s preeminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade, Canadian gold and base metal assets.

 

Posted April 11, 2019

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email
Choose a PDF page to share:

MORE or "UNCATEGORIZED"


Goldplay Closes Over-Subscribed Private Placement

Goldplay Exploration Ltd. (TSX-V: GPLY) (FRANKFURT: GPE) (OTCQB: ... READ MORE

June 24, 2019

Wallbridge Exploration Drilling Intersects 3.93 g/t Gold over 20.72 metres, including 55.95 g/t Gold over 1.24 metres at Fenelon Gold Property

Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7)is ple... READ MORE

June 24, 2019

Avalon Completes Collaborative Development Agreement on Nechalacho Rare Earth Elements Project, Yellowknife, NWT

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) is pleas... READ MORE

June 24, 2019

Northern Dynasty Announces Closing of US$5.0 Million Bought Deal

Northern Dynasty Minerals Ltd. (TSX: NDM) (NYSE American: NAK) an... READ MORE

June 24, 2019

Continental Gold Drills Visible Gold in All Holes Targeting the Centena Vein at Buriticá

Continental Gold Inc. (TSX:CN) (OTCQX:CGOOF) is pleased to announ... READ MORE

June 24, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions