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Bralorne Gold Mines Ltd

Published : June 23rd, 2009

Closes $391,465 Non-brokered private placement

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Keywords :   Gold Mine | Gold Mines |

 

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TSX Venture:  BPM
OTCBB: 
BPMSF
Frankfurt/Berlin:
GV7 /WKN A0B75M

52-week range     $0.35 - $1.30
Shares Outstanding 16,464,711

Investor Relations: 604.682.3701

 

 


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.

 

 

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Bralorne Gold Mines Ltd

EXPLORATION STAGE
CODE : BPM.V
ISIN : CA1050411075
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Bralorne Gold is a gold producing company based in Canada.

Its main exploration property is BRALORNE MINE in Canada.

Bralorne Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.6 millions as of today (US$ 4.9 millions, € 3.9 millions).

Its stock quote reached its highest recent level on December 30, 2005 at CA$ 3.10, and its lowest recent point on October 03, 2014 at CA$ 0.14.

Bralorne Gold has 28 510 000 shares outstanding.

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Annual reports of Bralorne Gold Mines Ltd
2008 Annual report
Annual Report 2007
Financings of Bralorne Gold Mines Ltd
5/24/2013Announces Cancellation of Convertible Debenture Financing
10/1/2009MGI securities brokered private placement 1st & 2nd closings
6/23/2009Closes $391,465 Non-brokered private placement
Option Grants of Bralorne Gold Mines Ltd
3/18/2013Announces Investor Relations Services Agreement
Project news of Bralorne Gold Mines Ltd
6/14/20111st month results from gold production
5/4/2011(Bralorne Mine)Starts 2011 Exploration Program
1/24/2011(Bralorne Mine)MILL PERMIT DRAFT RECEIVED
10/22/2009 2009 diamond drilling program commences to expand BK zone
6/10/2009(Bralorne Mine)Increases NI 43-101 resources to 77,750 ounces of Gold
2/9/2009(Bralorne Mine)DRILL RESULTS SHOW EXTENSIONS TO THE BK AND ALHAMBRA VEIN SY...
6/3/2008(Bralorne Mine)METALLURGICAL TESTING CONFIRMS BRALORNE'S MILL; IDEAL FOR PR...
12/31/2006(Bralorne Mine)2006 Technical report
Corporate news of Bralorne Gold Mines Ltd
10/17/2013Announces Results of Adjourned Annual General and Special Me...
10/9/2013Signs New 2014 Gold Concentrate Sales Contract
9/9/2013Surface Operations Resume at Bralorne
7/19/2013Operation Suspended
5/31/2013.: BCSC Notice of Hearing
4/24/2013Announces Convertible Debenture Financing of Up to $7.5 Mill...
4/16/2013Development Drift Results Show 63.6 Metres Grading 59 g/t Go...
3/25/2013.: Drifting on New Vein Discovery Averages 40.6 g/t Gold Ove...
11/8/2012.: BCSC Technical Disclosure Review
10/17/2012PEA Demonstrates a NPV of $6.4 Million for the Bralorne Oper...
10/1/2012Intersects 385.57 g/t Gold Over 1.2m at BK-3 Zone
4/4/2011Canada's Next Gold Producer - Bralorne Gold Mines Ltd. - BPM...
3/4/2011BRALORNE MOVES FORWARD TO START MILLING
8/16/2010Adjourned Annual General & Special Meeting to Friday, Septem...
10/7/2009recieves permit to mine the 51B and Taylor Zone
11/25/2008 RECEIVES PERMIT FOR DEVELOPMENT ON "UPPER BK VEIN"
9/17/2008News Release
1/8/2008Investor Digest
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