Brigadier Gold Limited
TSX VENTURE : BRG

Brigadier Gold Limited

November 18, 2010 15:58 ET

Brigadier Announces Closing of $1.5 Million Private Placement

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2010) - Brigadier Gold Limited (TSX VENTURE:BRG) Further to its press release dated October 25th, 2010, when Brigadier Gold Limited announced an increase to its private placement from $1 million to $1.5 million, Brigadier announced today it has closed the $1.5 million private placement financing, the proceeds of which will be used to finance the exploration program for the option and for general corporate purposes.

The private placement consists of the issuance of units at a price of 18 cents a unit, where each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase one common share over a one-year period at a price of 25 cents per common share. In the event that the common shares close at a price in excess of 70 cents for 20 consecutive trading days, Brigadier may reduce the exercise period to 30 days after giving notice of same.

In connection with the private placement, Brigadier has paid to finders (i) cash fees of between 8 per cent and 10 per cent on that portion of the money raised by the respective finder, (ii) warrants to purchase shares at 25 cents for a period of 12 months following closing on that portion of the money raised by the respective finder, and (iii) warrants to purchase units at 18 cents per unit for a period of 12 months following closing on that portion of the money raised by the respective finder.

Contact Information

  • Brigadier Gold Limited
    Herb Kokotow
    Treasurer and CFO
    (416) 410-7956
    (905) 707-1520 (FAX)