Brigadier Announces Closing of $3,500,000 Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2020) - Brigadier Gold Limited (TSXV: BRG) (FSE: B7LM) (the "Company" or "Brigadier") is pleased to announce that the non-brokered private placement previously announced on July 8, 2020 and increased on July 10, 2020 (the "Offering") has now closed. Under the Offering, the Company issued 13,461,538 units ("Units") at a price of $0.26 per Unit for gross proceeds of $3,500,000. Each Unit was comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) non-transferrable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.40 per Common Share until July 24, 2021. All dollar amounts in this release are expressed in Canadian dollars, unless otherwise stated.
In connection with the Offering, the Company paid a total of $186,678.13 in cash finder's fees to qualified non-related parties, in accordance with the policies of the TSX Venture Exchange (the "Exchange").
All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring November 25, 2020, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.
Proceeds from the Offering will be used to fund exploration of Brigadier's exploration projects as well as for marketing and general working capital purposes.
About Brigadier Gold
Brigadier Gold was formed to leverage what we believe will be the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement.
Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.
For further information, please contact:
Leah Hodges, Corporate Secretary
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company'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 Company, 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 Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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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