Mr. Brian Buchanan reports
BERKWOOD CLOSES FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Berkwood Resources Ltd. has closed the second (and final) tranche of its previously announced non-brokered private placement by issuing 4.33 million units at a price of six cents per unit for gross proceeds of $259,800. Each unit consists of one common share plus one share purchase warrant, with each warrant entitling the holder to purchase one additional common share of the company at 10 cents per share for the period of three years. For further information regarding the financing, please see the company's press release that was issued on Aug. 10, 2012.
The proceeds of this private placement will be used for exploration programs, acquisition of properties and general working capital. Finders' fees consisting of $6,720 in cash and 198,000 units were paid in accordance with the policies of the TSX Venture Exchange. The shares and warrants issued by the company are subject to a four-month hold period, which expires on Jan. 22, 2013.
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