Deal funds delineation of Martiniere Gold, Grasset Nickel discoveries
By Devika Patel
Knoxville, Tenn., Oct. 16 – Balmoral Resources Ltd. said on Thursday that it will conduct a C$4.5 million non-brokered private placement of stock.
The company will sell 6 million flow-through common shares at C$0.75 apiece. The price per share is a 48.31% premium to the Oct. 14 closing share price of C$1.18 and also represents a 44% premium to the 30-day volume-weighted average trading price of the stock, the company said in a press release.
Proceeds will be used for delineation of the Martiniere Gold and Grasset Nickel discoveries and exploration of the Detour Gold Trend Project.
The Vancouver, B.C.-based company explores for precious metals.
| Issuer: | Balmoral Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4.5 million
|
| Shares: | 6 million
|
| Price: | C$0.75
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 28
|
| Stock symbol: | Toronto: BAR
|
| Stock price: | C$1.18 at close Oct. 14
|
| Market capitalization: | C$124.6 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
