Brigadier Gold (TSX VENTURE:BRG) Announces Closing of Private Placement Financing and Mozambique Gold Corp. Acquisition
May 03 2012 - 1:30PM
Marketwired Canada
Further to its press releases dated March 29, 2012, March 30, 2012, April 10,
2012 and April 12, 2012, Brigadier Gold Limited (TSX VENTURE:BRG)
(FRANKFURT:B7LN) is pleased to announce that it has closed an $822,500 private
placement financing (the "Private Placement"), the proceeds of which will be
used for general corporate purposes and as described below. The private
placement consisted of the issuance of units (each, a "Unit" and collectively,
the "Units") at a price of $0.05 per Unit, with each Unit consisting of one
common share, and one common share purchase warrant, each warrant entitling the
holder to purchase one common share over a two-year period at a price of $0.10
per common share.
In connection with the Private Placement, Brigadier has paid to finders (i) cash
fees of 8% on that portion of the funds raised by the respective finder, (ii)
warrants to purchase common shares equal to 8% of the number of Units sold by
Brigadier through the respective finder's introduction(s) at $0.10 for a period
of 12 months following closing.
In addition to the Private Placement, Brigadier is pleased to report that it has
completed the acquisition of all of the issued and outstanding shares of
Mozambique Gold Corp., in exchange for the payment of $2.00 to the vendor of
MGC. In addition, Brigadier has agreed to cause MGC to repay a shareholder loan
in the amount of $325,000, which monies were raised through the Private
Placement. MGC owns proprietary due diligence information, research material and
reports on several gold exploration projects in Mozambique.
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