Jun 17, 2011
Brigadier Gold Limited Announces Re-Pricing of Non-Brokered Unit Private Placement
Brigadier Gold Ltd. has repriced its non-brokered private placement offering of up to 3.75 million units at 20 cents per unit for total gross proceeds of up to $750,000 previously announced on June 6, 2011. Pursuant to the repricing, the subscription price of the units has been reduced to 15 cents and the warrant exercise price has been reduced to 25 cents.
The company intends to complete the offering of up to 5.0 million units at a price of 15 cents per unit. Each unit will comprise common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share at a price of 25 cents per share for a period of one year from the date of the closing of the offering.
As previously announced, a finder's fee of up to 8 per cent of the gross proceeds of the offering may be paid, on all or any portion of the funds raised pursuant to this offering. In addition, finders will receive finders' warrants equal to up to 8 per cent of the number of units issued in connection with the offering. Each finders' warrant will entitle the holder to purchase one common share at 15 cents per share for a period of one year after the closing.
Proceeds from the offering will be used in part for additional project evaluation at Incamayo and for general working capital purposes.
All securities issued in connection with the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The offering is subject to the approval of the TSX Venture Exchange and required regulatory approvals. The finders' fee warrants are subject to the same terms.
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