Britannica Resources Corp.

Britannica Resources Corp.

November 26, 2007 09:42 ET

Britannica Arranges Financing

VAL D'OR, QUEBEC--(Marketwire - Nov. 26, 2007) - Britannica Resources Corp. (TSX VENTURE:BRR) is pleased to announce that it is arranging a non-brokered private placement of up to 2,100,000 flow-through units at $0.30 cents per unit for gross proceeds of $630,000. Each unit will consist of one flow-through share and one-half of one common share purchase, each warrant entitling the purchaser to purchase an additional one-half of one flow-through share at an exercise price of $0.40 for two years.

The Company shall pay a finder's fee on a portion of the flow-through financing in respect of purchasers of securities introduced to the company by the finder. The finder's fee shall equal 7% per cent of the total amount paid by purchasers, to be paid by cash.

The proceeds from the flow-through financing will be used for exploration on the Company's Quebec properties.

The financing involves significant investors, such as the MineralFields Group. Britannica is pleased to continue its relationship with the MineralFields Group in 2007, by completing a second consecutive financing with MineralFields and previously in 2006.

About MineralFields:

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information on MineralFields Group is available at First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resources financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

The closing of the financing is subject to certain conditions, including the acceptance of the terms of the financing by the TSX Venture Exchange.


Jeffrey A. Cocks, President

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

Contact Information

  • Britannica Resources Corp.
    Jeffrey A. Cocks
    Toll Free: 1-866-552-1929 or (819) 825-9311
    (819) 825-1199 (FAX)