Business
Brazil Resources Inc. increases size of previously announced private placement to up to $5,500,000
/This press release is not to be distributed to U.S. newswire services or to be disseminat...
About this update from Goldmining Inc.
[{"type":"text","content":"\n\n\n/This press release is not to be distributed to U.S. newswire services\n or to be disseminated in the United States.  Any failure to comply with\n this restriction may constitute a violation of U.S. securities laws./\n\n\nVANCOUVER, Dec. 23, 2013 /CNW/ - Brazil Resources Inc. (the \"Company\" or\n \"Brazil Resources\") (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce\n that due to strong demand it has increased the size of its previously\n announced non-brokered private placement (the \"Private Placement\") of\n units of the Company (each, a \"Unit\") at $0.55 per Unit from aggregate\n gross proceeds of $5,000,000 to aggregate gross proceeds of up to\n $5,500,000 or 10,000,000 Units.\n\n\nAmir Adnani, Chairman, stated: \"We are very pleased with the level of\n participation by insiders, existing shareholders and other investors in\n the Private Placement.  As previously disclosed, the funds from the\n Private Placement will be used to advance the Company's São Jorge and\n Cachoeira projects and to further strategic initiatives of growing\n through accretive acquisitions.\"\n\n\nEach Unit will be comprised of one common share of the Company and one\n common share purchase warrant (the \"Warrants\"). Closing of the Private\n Placement is expected to occur within December and is subject to\n receipt of all necessary approvals, including the approval of the TSX\n Venture Exchange (the \"TSXV\") and definitive subscriptions.\n\n\nThe Company may pay a finder's fee to one or more arm's length parties\n on a portion of the Private Placement in accordance with the policies\n of the TSXV.  All Units, common shares and Warrants issued under the\n Private Placement will be subject to a four-month hold period from the\n closing date, in accordance with the rules and policies of the TSXV and\n applicable Canadian securities laws and such other restriction as may\n apply under foreign securities laws. Each Warrant will entitle the\n holder thereof to acquire one common share at an exercise price of\n $0.75 up to 5 years after the closing of the Private Placement, subject\n to the terms thereof.\n\n\nThe Units, common shares and Warrants have not been, and will not be,\n registered under the United States Securities Act of 1933, as amended\n (the \"U.S. Securities Act\"), or any U.S. state securities laws and may\n n...