Brascan Announces Listing on Canadian Securities Exchange, Exploration Plans and Upcoming Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 13, 2021) - Brascan Gold Inc. (CSE: BRAS) ("Brascan" or the "Company") is pleased to announce that its common shares have commenced trading on the Canadian Securities Exchange under the symbol "BRAS" (the "Listing"). In connection with the Listing, the Company has obtained a receipt for its final prospectus (the "Prospectus") from the securities regulatory authorities in the Provinces of British Columbia, Alberta and Ontario. A copy of the Prospectus is available under the Company's profile at www.SEDAR.com.
The Company is also pleased to announce that crews are being mobilized to commence the phase 1 exploration program (the "Program") on the Company's Vulcan mineral property (the "Property"), located in the Fort Steele Mining Division in southeastern BC, as further detailed in the Company's NI 43-101 technical report respecting the Property (the "Technical Report"). A copy of the Technical Report is available under the Company's profile at www.SEDAR.com. The Program will consist of fieldwork, prospecting, mapping, geophysics, data compilation and geological modelling and follows on a $204,957 electromagnetic survey and diamond drilling program conducted on the Property in 2020 by the property optionor, Eagle Plains Resources Ltd.
The Company is also pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 8,000,000 units (each, a "Unit") of the Company at a price of $0.30 per Unit, for gross proceeds of up to $2,400,000. Each Unit will consist of one (1) common share and one-half of one (1/2) transferable common share purchase warrant (each whole warrant, a "Warrant"), each Warrant exercisable at a price of $0.40 for twenty-four (24) months from issuance. The Company intends to use the proceeds of the Private Placement for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland. The Company may pay finder's fees to eligible parties who introduce subscribers to the Private Placement. All securities issued in connection with the Private Placement will be subject to a four-month and one-day statutory hold period in accordance with applicable securities laws.
The securities to be issued under the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Company
The Company is a gold exploration issuer based in Vancouver, BC. The Company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC.
For more information, investors should review the Company's filings that are available at www.sedar.com.
This news release contains certain forward-looking statements that are "forward-looking information" within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Program, the Private Placement and the use of proceeds from the Private Placement are "forward-looking information". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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