Business
Berkwood Announces a Non Brokered Financing of $900,000
(via Thenewswire.ca) Vancouver, B.C. / TNW-ACCESSIRE / March 21st, 2014 / Berkwood Resou...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"Berkwood Announces a Non Brokered Financing of $900,000(via Thenewswire.ca)\n\n \nVancouver, B.C. / TNW-ACCESSIRE / March 21st, 2014 / Berkwood Resources Ltd. (TSX-V: BKR) (\"Berkwood\" or the \"Company\") is pleased to announce a non-brokered private placement of 15 million units, of which 7.5 million units will be non-flow-through units and 7.5 million units will be flow-through units, at a price of $0.06 per unit for the gross proceeds of $900,000.\n\n \n \nThe non-flow through units and flow through units will each be comprised of one common share (non-flow through or flow through, as the case may be) and one-half of one common share purchase warrant. Each full warrant shall entitle the holder to purchase one additional non-flow-through common share of the Company at $0.10 per share for a period of two years from the date of closing. A finder's fee on the sale of units will be payable in accordance with the policies of the TSX Venture Exchange. The terms of the private placement are subject to approval by the TSX Venture Exchange. \n\n \n \nThe proceeds from the financing will be used for exploration programs, acquisitions and general working capital. The Company will use the gross proceeds from the sale of the flow-through shares for Canadian exploration expenses (CEE), within the meaning of the Income Tax Act (Canada), with the Company using its commercial best efforts to ensure that such CEE qualify as a \"flow-through mining expenditure\" for the purposes of the Income Tax Act (Canada), related to the exploration of the Company's mineral exploration projects located in Canada. \n\n \n \nAbout Berkwood Resources: \n\n \n \nBerkwood holds a 100% interest in the Prospect Valley Gold Property near Merritt, BC. Several areas of gold mineralization have been identified on the 10,871 Ha property. The majority of historic drilling has taken place in the centre of the claim block along the Discovery Trend. This drilling has outlined an extensive low grade epithermal gold system with indications of potential for additional and higher grade mineralization. The system remains open for expansion and other known zones of gold mineralization have yet to be drilled (see Berkwood news release dated January 25, 2012, for details).\n\n \n \nBerkwood also has an option to earn a 100% interest in the Lac Gueret East Graphite Property, locate...