Mr. Balbir Johal reports
BRASCAN ANNOUNCES LISTING ON CANADIAN SECURITIES EXCHANGE, EXPLORATION PLANS AND UPCOMING PRIVATE PLACEMENT
Brascan Gold Inc.'s common shares have commenced trading on the Canadian Securities Exchange under the symbol BRAS. In connection with the listing, the company has obtained a receipt for its final prospectus from the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario. A copy of the prospectus is available under the company's profile on SEDAR.
The company is also pleased to announce that crews are being mobilized to commence the phase 1 exploration program on the company's Vulcan mineral property, located in the Fort Steele mining division in southeastern British Columbia, as further detailed in the company's National Instrument 43-101 technical report respecting the property. A copy of the technical report is available under the company's profile on SEDAR. The program will consist of fieldwork, prospecting, mapping, geophysics, data compilation and geological modelling, and follows on a $204,957 electromagnetic survey and diamond drilling program conducted on the property in 2020 by the property optionor, Eagle Plains Resources Ltd.
The company is also pleased to announce that it intends to complete a non-brokered private placement of up to eight million units of the company at a price of 30 cents per unit, for gross proceeds of up to $2.4-million. Each unit will consist of one common share and one-half of one transferable common share purchase warrant, each warrant exercisable at a price of 40 cents for 24 months from issuance. The company intends to use the proceeds of the private placement for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland. The company may pay finders' fees to eligible parties who introduce subscribers to the private placement. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
About the company
The company is a gold exploration issuer based in Vancouver, B.C. The company holds an option over the Vulcan property, located in the Fort Steele mining division in southeastern British Columbia.
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