Mr. Brian Buchanan reports
BERKWOOD ANNOUNCES PRIVATE PLACEMENT OF $350,000
Berkwood Resources Ltd. has arranged a non-brokered private placement of seven million units at five cents per unit for gross proceeds of $350,000.
Each unit shall consist of one common share and one common share purchase warrant. Each full warrant shall entitle the holder to purchase one additional common share of the company at 7.5 cents per share in the first year and 10 cents per share in the second year from the date of closing.
A finder's fee will be payable in accordance with the policies of the TSX Venture Exchange. The terms of the private placement are subject to approval by regulatory authorities.
The proceeds will be used for exploration programs, acquisition of properties and for general working capital.
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