Business
Belo Sun Closes Investment From Sun Valley Gold
TORONTO, ONTARIO--(Marketwired - March 21, 2016) - Belo Sun Mining Corp. ("Belo Sun" or the "Company") (TSX:BSX) has closed the C$5.8 million private placement
About this update from Belo Sun Mining Corp.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - March 21, 2016) - Belo Sun Mining Corp. (\"Belo Sun\" or the \"Company\") (TSX:BSX) has closed the C$5.8 million private placement financing with funds managed by Sun Valley Gold LLC (collectively, \"Sun Valley\") announced on March 14, 2016. As a result of the transaction, Sun Valley, through accounts over which it has discretionary trading authority, owns a total of 69.65 million shares, or approximately 18.19%, of Belo Sun's issued and outstanding shares on a non-diluted basis. The common shares issued pursuant to the private placement are subject to a statutory four-month hold period. Belo Sun intends to use the proceeds of the transaction to advance the detailed engineering and development of the Volta Grande Project and for general working capital purposes. About the Company Belo Sun Mining Corp. is a Canadian-based mineral exploration and development company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on advancing its 100%-owned Volta Grande Project to construction. Belo Sun trades on the Toronto Stock Exchange under the symbol \"BSX\". For more information about Belo Sun please visit www.belosun.com. Caution regarding forward-looking information: The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States. This press release contains \"forward looking information\" within the meaning of applicable Canadian securities legislation. Forward looking information includes, without limitation, statements regarding the intended use of proceeds of the private placement, the impact of the private placement on the Company, the receipt of all required regulatory approvals, next steps for the property, progress in development of mineral properties, the future financial or operating performance of the Company and anticipated production schedule. Generally, forward looking information can be identified by the use of forward-looking terminology s...