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Brazil Resources to Raise Up to $2,000,000 By Way of a Non-Brokered Private Placement
Brazil Resources to Raise Up to $2,000,000 By Way of a Non-Brokered Private Placement ...
About this update from Goldmining Inc.
[{"type":"text","content":"\n\n\n\nBrazil Resources to Raise Up to $2,000,000 By Way of a Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBrazil Resources to Raise Up to $2,000,000 By Way of a Non-Brokered Private Placement\nCanada NewsWire\nVANCOUVER, Feb. 11, 2016\n\n\n\n/THIS PRESS RELEASE IS NOT TO BE DISTRIBUTED TO U.S. NEWSWIRE SERVICES OR TO BE DISSEMINATED IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nVANCOUVER, Feb. 11, 2016 /CNW/ - Brazil Resources Inc. (the \"Company\" or \"Brazil Resources\") (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce that it intends to carry out a non-brokered private placement (the \"Private Placement\") of up to 4,444,444 common shares of the Company (each, a \"Common Share\") at $0.45 per Common Share for aggregate gross proceeds of up to $2,000,000.  The pricing for this placement is at a 10% discount to the 15-day VWAP. All Common Shares issued under the Private Placement will be subject to a four-month hold period from the closing date.\n\nThe Company expects that significant shareholders and other insiders will comprise the majority of the subscribers under the proposed Private Placement.  \n\nThe Company intends to use the net proceeds from the Private Placement to advance its corporate strategy, including expenses associated with the exploration of its existing projects and the acquisition of additional projects, and for working capital and general corporate purposes.  \n\nClosing of the Private Placement is expected to occur this month and is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the \"TSXV\") and receipt of definitive subscriptions.\n\nThe Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Sec...