VANCOUVER, BC / ACCESSWIRE / May 18, 2023 / Brigadier Gold Limited (the “Company“, or “Brigadier“) (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce the closing of the first tranche of its private placement of units (the “Private Placement“).
Pursuant to the first closing of the Private Placement, the Company issued9,574,513 units (“Units“) for a price of $0.07 per Unit, for gross proceeds of $670,215. Each Unit is comprised of one Common Share and one Common Share purchase warrant (each, a “Warrant“). Each Warrant will entitle the holder to purchase one additional Common Share of Brigadier at an exercise price of $0.15 for a period of twelve (12) months from the date of issuance.
In connection with the Private Placement, the Company paid cash commissions to qualified non-related parties in the aggregate amount of $35,169 and issued an aggregate of 502,415compensation warrants entitling the holders to acquire one Common Share at a price of $0.07 per share for a period of twelve (12) months from the date of issuance.
The proceeds from the Private Placement will be used to fund exploration at the Company’s Nemaska2 Project, for corporate marketing campaigns, and for general working capital purposes. All Common Shares, Warrants and compensation warrants issued in connection with the Private Placement, and any Common Shares issued in connection with the exercise of Warrants or compensation warrants, will be subject to a four month hold period in accordance with applicable securities laws and the policies of the Exchange.
The Company expects to complete a second and final closing for gross proceeds of approximately $110,000.
About Nemaska2 Lithium Project
The Nemaska2 Project consists of 162 map-designated mining titles (Nemaska2 and Nemaska2 Extension) covering a total area of 8,300 hectares and is located in northern Québec, approximately 160 kms east of James Bay, near the community of Nemaska. Neighbouring Brigadier’s Nemaska2 Project are claims held by Li-Ft Power, Brunswick Exploration, Dios Exploration, Critical Elements Lithium, and ~23 kilometres to the east lies Nemaska Lithium’s Whabouchi Project.
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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.
Forward-Looking Information Cautionary Statement
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events, including, without limitation, statements with respect to the anticipated second closing of the Private Placement, and statements relating to the intended use of proceeds from the Private Placement. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: the inability of the Company to complete a second or subsequent closing under the Private Placement, risks and uncertainties relating to the actual results of current exploration activities; the possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); environmental and regulatory requirements; availability of permits, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.