Brigadier Closes Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2020) - Brigadier Gold Limited (TSXV: BRG.H) (the "Corporation") is pleased to announce that the non-brokered private placement previously announced on May 11, 2020 and increased on June 1, 2020 (the "Offering") has closed. Under the Offering, the Corporation issued an aggregate of 14,000,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of $700,000. Each Unit was comprised of one (1) common share in the capital of the Corporation (each a "Common Share") and one (1) non-transferrable Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.10 per Common Share until June 3, 2021. All dollar amounts in this release are expressed in Canadian dollars, unless otherwise stated.
In connection with the Offering, the Corporation paid a total of $21,035 in cash to eligible finders.
All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period of four months and one day, expiring on October 4, 2020, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.
As described in the news release of the Corporation dated May 11, 2020, the proceeds of the Offering are expected to be used to make payments under the option agreement (the "Agreement") the Corporation entered into with Rudolf Wahl and Mike Dorval to acquire a 100% interest in the Killalla Lake South diamond property (the "Property"), subject to reservation of royalties in favor of the Wahl Group (the "Transaction"), as well as to complete a work program on the Property and for general working capital and corporate purposes.
While the Offering was being completed in connection with the Transaction, the Offering and the Transaction are not conditional upon each other. Trading in the Common Shares of the Corporation will remain halted until the TSX Venture Exchange has reviewed and approved the Transaction.
For further information, please contact:
Brigadier Gold Limited
Ranjeet Sundher, Chief Executive Officer
This news release contains statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Corporation, its directors, or its officers with respect to the future business activities of the Corporation, including, without limitation, completion of the Transaction, obtaining TSXV approval for the Transaction, the Corporation's ability to meet the listing requirements for a Tier 2 mining issuer on the TSXV, and completing a technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Readers are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Corporation's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Corporation, equity market conditions including without limitation, the impact of the COVID-19 pandemic, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Corporation does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57462