Stockwatch

Brascan Resources Inc
Symbol	BRAS
Shares Issued	44,129,168
Close 2023-06-15	C$ 0.025
Market Cap	C$ 1,103,229
Recent Sedar+ Documents

Brascan closes $152,500 private placement

2023-06-16 15:05 ET - News Release

Subject: RE: Brascan Resources - News Release for Immediate Dissemination Word Document File: '\\swfile\EmailIn\20230616 115615 Attachment 2023-06-16- BRAS - News Release -Closing NBP (Final).docx' NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES BRASCAN ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT Vancouver, BC, June 16, 2023 - Brascan Resources Inc. (CSE:BRAS) (the "Company" or "Brascan"), is pleased to announce that it has completed a non-brokered private placement (the "Financing") of 4,357,142 units (the "Units") at a price of $0.035 per Unit for gross proceeds of $152,500.00. Each Unit consists of one (1) share (each, a "Share") and one (1) transferable Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) additional Share of the Company for a period of two years expiring on June 16, 2025 at a price of $0.07 per Share. No finders' fees or commissions were paid in connection with completion of the Financing. The Company intends to use the proceeds from the Financing for exploration expenditures on the Iceberg VTM project, the Quebec-Li and Brazil-Li lithium properties in Quebec and Brazil and the Alegre Gold property and for business development and general corporate purposes. All securities issued in connection with the Financing are subject to a four month and one day statutory hold period in accordance with applicable securities law until October 17, 2023. Ms. Kelly Burr subscribed for an aggregate 1,000,000 Units for gross proceeds of $35,000.00 in the Financing. Such participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Private Placement by insiders does not exceed twenty-five percent (25%) of the market capitalization of the Company, as determined in accordance with MI 61-101. The securities to be issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news 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 Brascan (CSE: BRAS) is a Lithium and Gold exploration issuer based in Vancouver, B.C. BRAS owns a 100% interest in the Quebec-Li properties in northern Quebec. The Company also owns 100% of the Albany Forks Rare Earth Elements (REE) property in northern Ontario, options to earn 100% interests in two lithium properties in Minas Gerais State in Brazil and an option to earn 100% of the Alegre Gold Project in Para State in Northeastern Brazil. For more information, investors should review the Company's filings that are available at www.sedar.com. Contact Information Balbir Johal Director and CEO Telephone: 604 812 1747 Email: bjohal75@gmail.com Forward-Looking Statements 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 respecting the terms of 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. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.