Offering funds exploration of the company's Detour Gold Trend projects
By Devika Patel
Knoxville, Tenn., Feb. 21 - Balmoral Resources Ltd. said it has arranged a C$3.04 million private placement of stock.
The company will sell 2 million flow-through common shares at C$1.52 apiece, a 46.15% premium to the Feb. 17 closing share price of C$1.04.
The deal will be conducted by underwriter Casimir Capital Ltd.
Settlement is expected March 12.
Proceeds will be used for exploration of the company's Detour Gold Trend projects.
The Vancouver, B.C.-based company explores for precious metals.
| Issuer: | Balmoral Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3.04 million
|
| Shares: | 2 million
|
| Price: | C$1.52
|
| Warrants: | No
|
| Underwriter: | Casimir Capital Ltd.
|
| Pricing date: | Feb. 21
|
| Settlement date: | March 12
|
| Stock symbol: | TSX Venture: BAR
|
| Stock price: | C$1.04 at close Feb. 17
|
| Market capitalization: | C$65.18 million
|
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