Berkwood Announces Amendments to Non Brokered Financing of $975,000

About this update from First Canadian Graphite Inc.

[{"type":"text","content":"\nBerkwood Announces Amendments to Non Brokered Financing of $975,000\n\n(via Thenewswire.ca)\n\n \nVancouver, B.C., November 9th, 2012 - Berkwood Resources Ltd. (TSX-V: BKR) ( \"Berkwood\") announces that the terms of its non-brokered private placement financing of $975,000, originally announced on November 1, 2012, have been revised. The financing will now be comprised of 7,333,334 flow-through common shares without a warrant at $0.09 per flow-through common share for gross proceeds of $660,000, and 4,200,000 non-flow-through units at $0.075 per unit for gross proceeds of $315,000. Each non-flow-through unit shall consist of one common share and one-half of a common share purchase warrant. Each full warrant shall entitle the holder to purchase one additional common share of the company at $0.10 per share for the period of two years from the date of closing. A finder's fee will be payable in accordance with the policies of the TSX Venture Exchange. The terms of the private placement are subject to approval by regulatory authorities. \n\n \n \nThe proceeds will be used for exploration programs, acquisitions and general working capital. Berkwood intends to 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 best efforts to ensure that such CEE qualify as flow-through mining expenditures for purposes of the Income Tax Act (Canada), related to the exploration of the company's mineral exploration projects located in Canada. \n\n \n \nOn Behalf of Berkwood Resources\n\n \n \n\"Brian Buchanan\"\n\n \n \nBrian Buchanan, President and Director\n\n \n \nFor additional information please contact: \n\n \n \nKarim Sayani, Corporate Communications \n\n\n \nTel: (604) 662-7455 E-mail: [email protected] \n\n \n \nTom Steer, Media Relations Manager\n\n\n \nTel: (604) 681-5566 E-mail: [email protected]\n\n \n \nForward Looking Statements\n\n\n \nThis Berkwood News Release may contain certain \"forward-looking\" statements and information relating to Berkwood that are based on the beliefs of Berkwood's management as well as assumptions made by and information currently available to Berkwood's management. Such statements reflect the current risks, uncertainties and assumptions related to cert...

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