07:21:21 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Balmoral Resources Ltd
Symbol BAR
Shares Issued 110,381,521
Close 2015-11-17 C$ 0.47
Market Cap C$ 51,879,315
Recent Sedar Documents

Balmoral closes final $900,000 tranche of placement

2015-11-18 17:57 ET - News Release

Mr. John Foulkes reports

BALMORAL RESOURCES INC. CLOSES SECOND TRANCHE OF FLOW THROUGH OFFERING

Balmoral Resources Ltd. has closed the second and final tranche of the previously announced (see news releases dated Oct. 15 and Oct. 28, 2015) non-brokered private placement. The company has raised an additional $900,000, for aggregate gross proceeds of $5,435,734 through the issuance of an aggregate of 7,247,646 flow-through common shares at a price of 75 cents per flow-through share. The second tranche of the offering was completed with a single, existing institutional shareholder.

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 second tranche of the offering, the company has paid a single finder a cash commission of $51,000, for aggregate commissions totalling $319,544.

Securities issued under the second tranche of the offering are subject to a hold period, which will expire four months and one day from the date of closing, being March 19, 2015.

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