Barkerville Gold Mines Announces Flow-Through Unit Offering of Up to $4Million
TORONTO, ON / TheNewswire / December 2, 2015 -Barkerville Gold Mines Ltd. (TSXV: BGM) ("Barkerville" or the "Company") is pleased to announce that it intends to complete private placement offering of up to 12,500,000 flow through units ("Flow Through Units") at a price of $0.32 per Flow Through Unit, for gross proceeds of up $4,000,000 (the "Offering"). Each Flow Through Unit will consist 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 for a period of two years following the closing of the Offering. The gross proceeds from the Offering will be used for Canadian Exploration Expenses, and will qualify as "flow-through mining expenditures", as defined in the Income Tax Act (Canada), and "BC flow-through mining expenditures", as defined in the Income Tax Act (B.C.),
The Company has agreed to enter into a finder's fee agreement with Sprott Private Wealth LP, or its affiliates (the "Finder"), pursuant to which the Finder will be paid a finder's fee equal to 5% of the gross proceeds of the Offering.
The closing of the Offering is anticipated to take place on or about December 14, 2015, or such other date as the Company and the Finder may agree, but in any event no later than December 31, 2015. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
For further information on Barkerville Gold Mines Ltd., please contact:
Tom Obradovich
President & Chief Executive Officer
(416) 361-2511
tobradovich@barkervillegold.com
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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