Brigadier Gold Limited

Brigadier Gold Limited

October 27, 2006 17:56 ET

Brigadier Gold 'TSX-V: BRG' Announces Proposed Private Placement

TORONTO, ONTARIO--(CCNMatthews - Oct. 27, 2006) - Brigadier Gold Limited (TSX VENTURE:BRG) (the "Corporation") announced today that it has entered into a non-brokered private placement for an aggregate of up to 1,086,957 flow-through units at a purchase price of $0.115 per unit, for gross proceeds of up to $125,000. Each flow-through unit will be comprised of one flow-through common share of the Corporation plus one half warrant. Each full warrant entitles the holder thereof to acquire one additional common share of the Corporation at any time for a period of up to 18 months from the date of issue at a price of $0.18 per share. The Corporation plans to use the proceeds from the offering for general working capital and to further fund exploration and development activities.

The Corporation will pay a finder's fee that consists of a cash payment equal to 8% of the gross proceeds of the placement, plus that number of finder's warrants equal to 10% of the aggregate number of securities distributed by the issuer. Each such warrant will entitle the holder to purchase one flow-through unit at an exercise price of $0.115 for a period of 18 months.

The securities to be issued under this offering will be offered by way of private placement in British Columbia to Canadian Small Cap Resource Fund as the investor. The offering is scheduled to close on or about the 31st day of October, 2006.

About Brigadier Gold

Brigadier Gold Ltd. is a junior exploration company focused on gold in Canada's historical mining camps. The Company's key assets are an option to earn up to an 80% interest in the Hunter Mine, a former gold producer in the Porcupine Mining Camp near Timmins, Ontario from which more than 60 million ounces of gold has been produced from a number of deposits including the Dome, Hollinger, Pamour and Hoyle Pond mines; and the Kirkland Lake-Larder Lake and Matachewan areas where over 37 million ounces of gold have been produced from 25 mines.

Brigadier has 18,630,335 common shares outstanding and trades on the TSX Venture Exchange under the symbol BRG.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Brigadier, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Brigadier's expectations are disclosed under the heading "Risk Factors" and elsewhere in Brigadier's documents filed from time-to-time with regulatory authorities.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Brigadier Gold Limited
    Herb Kokotow
    President & CEO
    (416) 410-7956
    (905) 707-1520 (FAX)