Business
BRS Ventures Ltd. Announces TSXV Conditional Acceptance, SEDAR Filing of Filing Statement and Amendment to Proposed Private Placement Financing
VANCOUVER, BC / ACCESSWIRE / July 19, 2016 / BRS VENTURES LTD . (TSXV: BRV.H) ("BRS") , ...
About this update from Silver One Resources Inc.
[{"type":"text","content":"BRS Ventures Ltd. Announces TSXV Conditional Acceptance, SEDAR Filing of Filing Statement and Amendment to Proposed Private Placement FinancingVANCOUVER, BC / ACCESSWIRE / July 19, 2016 / BRS VENTURES LTD. (TSXV: BRV.H) (\"BRS\"), a capital pool company, is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the \"Exchange\") relating to its previously announced proposed qualifying transaction (the \"Transaction\") with Anstag Mining Ltd. (see news release dated May 24, 2016). Subject to satisfaction of the Exchange's conditions outlined in its approval letter, the Company expects to close the transaction on July 27, 2016.\nA filing statement prepared in accordance with the requirements of the Exchange in connection with the Transaction has been filed with the Exchange and the applicable Canadian securities regulators on SEDAR and is available at www.sedar.com.\nBRS also announces that it has amended the terms of its previously announced private placement offering (the \"Offering\") (see news release dated May 24, 2016). The Offering will now consist of a proposed non-brokered private placement financing of up to 8,500,000 common shares (each a \"Share\") at a price of $0.05 per Share for gross proceeds of up to $425,000.\nSubject to Exchange approval, BRS may pay finders in cash and/or share purchase warrants under the Offering.\nThe proceeds of the Offering will be used for exploration work on the Margurete Gold Property and general working capital purposes.\nAbout the Margurete Gold Property\nThe Margurete Gold Property covers 678ha of mineral claims, located in the Phillips Arm area, approximately 120 kilometers northwest of Vancouver in southwest British Columbia, in the Vancouver Mining Division. The Margurete Gold Property was last explored in 2015 with property-wide prospecting, mapping and rock chip sampling run in parallel with a targeted pack-sack diamond drilling program. A short-hole, pack-sack, diamond drilling program was conducted on the project, utilizing a Shaw diamond drill (AQ sized core) with an effective penetration depth of approximately 12 metres.\nThe primary target at the Margurete Gold Property is the FB Zone, where Falconbridge encountered gold bearing mineralization at shallow depth. An initial exploration program was completed on the Margurete property in 1...