Brigadier Announces Closing of $1,000,000 Non-Brokered Private Placement

Rhea-AI Summary

Brigadier Gold Limited has successfully closed a non-brokered private placement, raising $1,000,000 by issuing 5,000,000 units at $0.20 per unit. Each unit comprises one common share and one warrant, the latter allowing a purchase at $0.30 until March 16, 2022. The company incurred finder’s fees of $42,840 and issued 214,200 finder’s warrants. Proceeds will fund exploration at the Picachos and Killalla Lake properties and cover general working capital. All issued securities are subject to a hold period until July 17, 2021.

Positive

• Raised $1,000,000 through a successful non-brokered private placement.
• Funding allocated for exploration activities at Picachos and Killalla Lake properties.

Negative

• Finder's fees amounted to $42,840, which reduces net proceeds.
• Market uncertainty may impact future operations despite funds raised.

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VANCOUVER, BC / ACCESSWIRE / March 16, 2021 / Brigadier Gold Limited (the "Company" or "Brigadier") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce that the non-brokered private placement previously announced on February 19, 2021 (the "Offering") has now closed. Under the Offering, the Company issued 5,000,000 units ("Units") at a price of $0.20 per Unit for gross proceeds of $1,000,000. Each Unit was comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) non-transferrable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.30 per Common Share until March 16, 2022. All dollar amounts in this release are expressed in Canadian dollars, unless otherwise stated.

In connection with the Offering, the Company paid a total of $42,840 in cash finder's fees and issued 214,200 finder's warrants (each a "Finder's Warrant"), to qualified non-related parties, in accordance with the policies of the TSX Venture Exchange (the "Exchange"). Each Finder's Warrant entitles the holder to purchase one Common Share for $0.30 until March 16, 2022.

All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring July 17, 2021, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.

Proceeds from the Offering will be used to fund exploration at Brigadier's Picachos and Killalla Lake properties, corporate marketing campaigns and general working capital purposes.

About Brigadier Gold

Brigadier was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement.

Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.

For further information, please contact:

Brigadier Gold Limited
www.brigadiergold.ca
Ranjeet Sundher, Chief Executive Officer
corporate@brigadiergold.ca

Leah Hodges, Corporate Secretary
(604) 377-0403

Reader Advisory

This news release may contain statements which constitute "forward-looking information," including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Brigadier Gold Limited

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FAQ

What was the outcome of Brigadier Gold's private placement on March 16, 2021?

Brigadier Gold closed the private placement, raising $1,000,000 by issuing 5,000,000 units at $0.20 each.

How much was raised in Brigadier Gold's non-brokered private placement?

The non-brokered private placement raised a total of $1,000,000.

What will the proceeds from Brigadier Gold's offering be used for?

Proceeds will fund exploration at the Picachos and Killalla Lake properties and support general working capital.

What are the terms of the warrants issued by Brigadier Gold?

Each warrant allows the purchase of one common share at $0.30 until March 16, 2022.