Brigadier Announces Reactivation on TSX Venture Exchange
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2020) - Brigadier Gold Limited (TSXV: BRG.H) (the "Corporation") is pleased to announce that the TSX Venture Exchange (the "TSXV") has granted final approval regarding the NEX reactivation and application for graduation to Tier 2 of the TSXV (the "Reactivation"). Effective Friday, June 26, 2020 trading in the Corporation's common shares will commence on the TSXV under the trading symbol "BRG".
The Reactivation was completed in connection with the previously announced (May 11, 2020) option agreement (the "Agreement") entered into by the Company with Rudolf Wahl and Mike Dorval, together doing business as the "Wahl Group", to acquire a 100% interest in the Killala Lake South property, consisting of forty-six (46) cell claims units located in Killala Lake, Foxtrap Lake Area Townships, Thunder Bay Mining District, Ontario (the "Property"), subject to reservation of royalties in favor of the Wahl Group (the "Transaction"). In accordance with the terms of the Agreement, the Company has issued 500,000 common shares in the capital of the Corporation ("Common Shares") to the Wahl Group effective as of June 24, 2020, at a deemed price per Common Share of $0.05. Details of the Agreement are described in the news release of the Corporation dated May 11, 2020. A technical report prepared in accordance with NI 43-101 in respect of the Property is available at www.sedar.com.
Further to the Corporation's announcement on June 8, 2020, the Corporation expects to use the proceeds received from the private placement offering of units (the "Offering") to make payments under the Agreement. Under the Offering, the Corporation closed on gross proceeds of $700,000. In addition to making the scheduled payments under the Agreement, the net proceeds from the Offering are expected to be used to complete a work program on the Property, and for general working capital and corporate purposes.
The Corporation also announces that it has received approval from the TSXV to continue from the Province of Ontario to the Province of British Columbia. Shareholder approval for the continuance was previously obtained at the meeting of the Corporation's shareholders held on February 27, 2020. The Corporation completed the continuance on June 19, 2020.
Appointment of Corporate Secretary
The Corporation is also pleased to announce that Mrs. Leah Hodges has been appointed as Corporate Secretary of the Corporation. Mrs. Hodges has over 15 years of experience providing corporate compliance, administration and governance support serving on and for, numerous boards of directors of private and public listed companies in the resource and technology sectors. Mrs. Hodges specializes in corporate, commercial and securities law, corporate governance, mergers and acquisitions. Mrs. Hodges is a Commissioner for Taking Affidavits in British Columbia, has an Associate of Arts degree from Capilano University and is a member of the Governance Professionals of Canada.
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, the use of proceeds from the Offering, and the ability for the Corporation to carry out the work program and obtain the 100% interest in the Property. 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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58531