|
BRALORNE CLOSES $391,465 NON-BROKERED PRIVATE PLACEMENT
Bralorne
Gold Mines Ltd. (the "Company") has completed a non-brokered
private placement of 236,500 common share units, 75,263 flow through
shares and 70,000 �Super� flow through shares out of a total
non-brokered private placement of up to 2,000,000 units announced on
May 7, 2009. The 2,000,000 units consisting of 500,000 common
share units at a price of $0.95 per unit, 1,000,000 flow
through shares at a price of $1.10 per share, and 500,000 �Super� flow
through shares at a price of $1.20 per share.
The common shares units consist of one common
share and one non-transferable share purchase warrant
(�warrant�). Each warrant will entitle the investor to purchase
one additional common share at an exercise price of $1.25 per share for
a period of 18 months, expiring on December 15, 2010.
The flow-through and Super flow-through shares
will entitle the investor to the tax benefits of the qualifying
Canadian exploration expenses incurred by the Company, which will be
�flowed-through� to the investor.
All securities issued under this private
placement are subject to a four month hold period, expiring on October
15, 2009.
The Company has paid the following finders, a
finder�s fee equal to 6% of the funds raised, plus compensation options
to acquire common shares of the Company (the �Compensation Options�)
equal to 8% of the number of Units, FT Shares and Super FT Shares sold
at an exercise price of $1.25 per share for a period of eighteen (18)
months expiring on December 15, 2010:
� P.I. Financial Corp. - $6,990 and 9,600
Compensation Options
� Canaccord Capital Corporation - $14,442 and
18,160 Compensation Options
� Virgin Ventures Ltd. - $1,510.50 and 2,120
Compensation Options
The
Company has also paid the following finder, a due diligence fee of
$5,000 plus a finder�s fee in Compensation Options equal to 2% of the
number of Units, FT Shares and Super FT Shares sold at an exercise
price of $1.25 per share for a period of eighteen (18) months expiring
on December 15, 2010:
� Ryan Sharp - $5,000 and 7,635 Compensation Options
In
the event that the Company�s common shares trade on the Exchange at a
trading price equal to or greater than $2.50 per share for 10
consecutive trading days at any time after four months from the Closing
Date, the Issuer will have the option to accelerate the expiration date
of the Warrants and the Warrants will have to be exercised within
thirty one (31) days after the date of notice, otherwise the Warrants
will expire. The net proceeds of the Offering will be used for additional
exploration and development work on the Company's mining properties and
for general working capital requirements.
The Company is a Canadian junior mining and
exploration company, whose corporate strategy is to build shareholder
value through the exploration and development of economically viable
mineral properties. The Company�s current project is a 100%
interest in the Bralorne Gold Mine, BC. For more information
visit: www.bralorne.com.
ON BEHALF OF THE BOARD
"William Kocken"
_______________________________
William Kocken
President
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the accuracy or adequacy of this release. This
release contains statements that are forward-looking statements and are
subject to various risks and uncertainties concerning the specific
factors disclosed under the heading �Risk Factors� and elsewhere in the
Company�s periodic filings with Canadian securities regulators. Such
information contained herein represents management�s best judgment as
of the date hereof based on information currently available. The
Company does not assume the obligation to update any forward-looking
statement.
|