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Golden Birch Resources Inc. Announces a $6,000,000 Private Placement Financing of Units Through the Engagement of IBK Capital Corp.
TIMMINS, ON / ACCESSWIRE / April 16, 2020 / Golden Birch Resources Inc. (CSE:GBRX) ("Golden Birch" or the "Company") announces that it has engaged IBK Capital C
About this update from Loyalist Exploration Limited
[{"type":"text","content":" TIMMINS, ON / ACCESSWIRE / April 16, 2020 / Golden Birch Resources Inc. (CSE:GBRX) (\"Golden Birch\" or the \"Company\") announces that it has engaged IBK Capital Corp. (\"IBK Capital\") to manage a proposed private placement financing for gross proceeds of up to C$6,000,000 through the sale of units (\"Units\") of the Company at a price of C$0.15 per Unit (the \"Offering\"). Each Unit shall consist of one common share in the capital of the Company (\"Share\") and one Share purchase warrant (\"Warrant\"). Each whole Warrant shall entitle the holder to purchase one additional Share at an exercise price of C$0.20 per Share, for a period of five (5) years from the date of issuance. Golden Birch has also entered into an agreement with IBK Capital to assist the Company in evaluating strategic alternatives to maximise shareholder value through advancement of the Company's flagship property, a copper-gold project located in Papua New Guinea (the \"Keveri Project\"). All securities issued and issuable pursuant to the Offering will be subject to a hold period of four months and one day from the date of closing. In connection with the Offering, the Company will pay commissions to IBK Capital in accordance with the policies of the Canadian Securities Exchange (\"CSE\"). Completion of the Offering is subject to the receipt of all regulatory approvals, including the approval of the CSE. Alan Martin, President, Chief Executive Officer, and Executive Director of Golden Birch Resources said: \"We are pleased to have a firm with IBK Capital's global relationships in the mining sector to explore ways to create value for our shareholders. We are excited about the potential of the Keveri Project. Golden Birch has identified multiple exploration targets and we intend on advancing these in order to enhance shareholder value.\" Use of Proceeds The Company intends to use the proceeds from this private placement for exploration on the Keveri Project, for working capital, corporate overhead and general and administrative purposes. About Golden Birch Resources Inc. Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. Core value for the Company are respect for the Community, the Landowners, the environment and operating a safe workplace for its employee...