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Balmoral Resources Ltd
Symbol BAR
Shares Issued 151,192,922
Close 2019-12-27 C$ 0.465
Recent Sedar Documents

Balmoral closes $4.55-million private placement

2019-12-30 11:16 ET - News Release

Mr. Darin Wagner reports

BALMORAL CLOSES NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $4.55 MILLION

Balmoral Resources Ltd. has closed the previously announced (see news release dated Dec. 16, 2019) non-brokered, flow-through private placement.

Pursuant to the closing of the offering, the company issued 8.93 million Quebec flow-through common shares at a price of 51 cents per Quebec flow-through share for gross proceeds of $4,554,300. The Quebec flow-through shares issued will be subject to a four-month-and-one-day hold period from the date of closing of the offering under applicable securities laws in Canada.

The net proceeds from the sale of the Quebec flow-through shares will be used for the exploration of the company's properties located in the province of Quebec.

In consideration of their assistance with sale of the Quebec flow-through shares, the company paid cash finders' fees, totalling in aggregate $200,000, to Mackie Research Capital Corp. and Infor Financial Inc.

About Balmoral Resources Ltd.

Balmoral Resources is a multiaward-winning, Canadian-focused exploration company actively exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. Employing a drill-focused exploration style in one of the world's pre-eminent mining jurisdictions, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade, Canadian gold and base metal assets.

We seek Safe Harbor.

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