Britannica Increases Financing
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/17/11 -- Britannica Resources Corp. ("the Company") (TSX VENTURE: BRR) is pleased to announce that it has increased the previously announced (see news release 10-12-11) non-brokered financing of $1,500,000 up to $2,000,000.00.
The Company has arranged for a non-brokered private placement of up to 10,000,000 units (the "Units") priced at $0.20 per Unit, for maximum gross proceeds of $2,000,000 (the "Offering"). Each unit will consist of one common (the "Common Share") share and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company at a price of $0.35, for a period of 24 months following the closing of the Offering (the "Closing"). Proceeds from the Offering will be used to fund general working capital requirements and to advance exploration on the Company's Properties.
All securities to be issued in conjunction with the Offering will be subject to a restrictive hold period ending 4 months and one day following the closing date. All other terms of the financing remain the same.
Closing of the financing is scheduled to occur on or before November 30, 2011 and is subject to acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Jeffrey Cocks, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Britannica Resources Corp.
Jeffrey Cocks
President
(604) 608-6611
(604) 608-6620 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 17.11.2011 - 21:54 Uhr
Sprache: Deutsch
News-ID 89157
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"Britannica Increases Financing"
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