10:28:53 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Balmoral Resources Ltd
Symbol BAR
Shares Issued 110,381,521
Close 2015-10-28 C$ 0.50
Market Cap C$ 55,190,761
Recent Sedar Documents

Balmoral closes $4.53-million private placement

2015-10-28 20:04 ET - News Release

Mr. Darin Wagner reports

BALMORAL ANNOUNCES COMPLETION OF $4,535,734 FLOW THROUGH OFFERING

Balmoral Resources Ltd. has successfully completed the previously announced (see news release dated Oct. 15, 2015) non-brokered private placement. The company has issued 6,047,646 flow-through common shares at a price of 75 cents per flow-through share for gross proceeds of $4,535,734. Securities issued under the offering are subject to a hold period which will expire four months and one day from the date of closing, being Feb. 29, 2016.

The proceeds raised from the offering will be used by the company for further delineation of its Martiniere gold and Grasset nickel discoveries, and continued exploration of its Detour gold trend project located in the province of Quebec.

In conjunction with the completion of the offering, the company has paid certain finders cash commissions totalling $268,544.

The company also advises that it has received further expressions of interest in the offering and that the company's board of directors may determine to increase the size of the offering by as much as 20 per cent, which increase would be completed by way of a second tranche closing, subject to approval by the Toronto Stock Exchange.

We seek Safe Harbor.

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