TORONTO, ONTARIO--(Marketwire - Sept. 11, 2012) - Brigadier Gold Limited (News - Market indicators) (FRANKFURT:B7LN) is pleased to announce that it has closed the $402,500 initial tranche of its previously announced non-brokered private placement financing of up to $500,000, the proceeds of which will be used for working capital requirements and to finance due diligence activities in Africa.
The private placement consists of the issuance of units (each, a "Unit") at a price of $0.05 per Unit, where each Unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one common share over a two-year period at a price of $0.10 cents per common share.
In connection with the Private Placement, Brigadier has paid to finders (i) cash fees of 8% on that portion of the funds raised by the respective finder, (ii) warrants to purchase common shares equal to 8% of the number of Units sold by Brigadier through the respective finder's introduction(s) at $0.10 for a period of 12 months following closing.
Brigadier Gold is a gold exploration company based in .
Brigadier Gold holds various exploration projects in Argentina and in Canada.
Its main exploration properties are HUNTER GOLD MINE, CHARTRE-DUFRESNE and BENSON CREEK (KIRKLAND/ LARDER) in Canada.