Barkerville Gold Mines Closes Brokered Private Placement
TORONTO, ON / TheNewswire / June 29, 2015 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company") is pleased to announce that it has closed its previously announced "best efforts" private placement (the "Offering"), led by Primary Capital Inc. (the "Agent").
The Company issued an aggregate of 6,059,375 flow-through units (the "Flow Through Units") at a price of $0.32 per Flow Through Unit for aggregate gross proceeds of $1,939,000. Each Flow Through Unit consists of one common share (a "Common Share") of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant") with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.40 until December 29, 2016. Each Common Share and Warrant comprising the FT Units will qualify as a "flow through share" for purposes of the Income Tax Act (Canada). The Common Shares issuable upon exercise of the Warrants will not qualify as "flow-through shares".
The Company paid the Agent a cash commission equal to 6% of the gross proceeds of the Offering and issued 363,563 broker warrants ("Broker Warrants"). Each Broker Warrant entitles the Agent to acquire one Common Share at a price of $0.32 until December 29, 2016.
The Company intends to use the net proceeds from the Offering to explore its extensive property package encompassing the Cariboo Mining District and related properties in British Columbia. Completion of the Offering will be conditional upon the Company obtaining TSX Venture Exchange approval and the securities issued thereunder will be subject to a four month hold period.
For further information on Barkerville Gold Mines Ltd., please contact:
Tom Obradovich
President & Chief Executive Officer
(416) 361-2511
tobradovich@sympatico.ca
Cautionary Statement on Forward -Looking Information
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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