Deal funds exploration at the Tortigny, Schefferville projects
By Devika Patel
Knoxville, Tenn., Sept. 2 - Beaufield Resources Inc. said it will conduct a C$1.72 million private placement of stock via agent Desjardins Securities Inc. and a C$360,000 offering of shares on a non-brokered basis.
The company will sell 4,777,000 flow-through common shares at C$0.36 per share on a bought-deal basis in the brokered deal and 1 million shares at the same price in the non-brokered offering. The price per share reflects an 18.03% premium to the Sept. 1 closing share price of C$0.305.
Settlement is expected Sept. 20.
Proceeds will be used for Beaufield's exploration programs in Canada, including exploration at the Tortigny base metal project and the Schefferville iron project in Quebec.
Based in Nepean, Ont., Beaufield explores for copper, zinc and gold.
| Issuer: | Beaufield Resources Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2,079,720
|
| Shares: | 5,777,000
|
| Price: | C$0.36
|
| Warrants: | No
|
| Agent: | Desjardins Securities Inc. (for C$1,719,720), non-brokered (for C$360,000)
|
| Pricing date: | Sept. 2
|
| Settlement date: | Sept. 20
|
| Stock symbol: | TSX Venture: BFD
|
| Stock price: | C$0.305 at close Sept. 1
|
| Market capitalization: | C$27.05 million
|
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