TORONTO, ONTARIO--(Marketwire - April 12, 2012) - Brigadier Gold Limited (TSX VENTURE:BRG) is increasing the amount of its non-brokered private placement that was announced March 30, 2012, from $650,000 to $800,000 to finance the advancement of the Mozambique acquisition, and for general working capital purposes.
The private placement will consist of the issuance of units at a price of $0.05 per unit, where each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share over a two-year period at a price of $0.10 per common share. Finders' fees of up to 8 % of the gross proceeds of the offering may be paid on all or any portion of the financing raised, pursuant to the 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 finder warrant will entitle the holder to purchase one common share at $0.10 per share for a period of one year after the closing.
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.