Brandon Gold - $3.56 Million Private Placement Financing Completed.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 11, 1997-- Brandon Gold Corp.(VSE See DOS/VSE. VSE - Virtual Storage Extended :BG) is pleased to announce the completion of the non-brokered private placement that was announced on November 27, 1996. A total of 1,425,000 shares were sold at a price of $2.50 per share, for gross proceeds of $3,562,500. In addition, 44,391 shares were issued with respect to the payment of finders' fees, together with a cash payment of $53,750. The shares sold in the private placement as well as the shares issued with respect to the payment of finders' fees are subject to a hold period which expires on February 11, 1998. The proceeds from this private placement will be used for working capital, property acquisitions and exploration of the Company's El Caracol (El) Caracol, from the Spanish term for "spiral (snail–, conch– seashell–) shaped", may refer to:
El Caracol adjoins the southern border of Farallon's Campo Morado project, which hosts a north-south trending zone containing several massive sulphide deposits (see map). Farallon has drilled over 21,000 meters and is delineating a large scale gold-rich massive sulphide deposit. Brandon has just completed an airborne geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. and landsat imagery interpretation 1. The process of location, recognition, identification, and description of objects, activities, and terrain represented on imagery. 2. The extraction of information from photographs or other recorded images. Also called photographic interpretation. on El Caracol and is expecting the results in the next four to five weeks. The Company will be continuing their exploration efforts on the property with regional geochemistry geochemistry, study of the chemical changes on the earth. More specifically, it is the study of the absolute and relative abundances of chemical elements in the minerals, soils, ores, rocks, water, and atmosphere of the earth and the distribution and movement of and geological mapping planned for the coming weeks. This will consist of a complete stream sediment sampling program of all drainages and an evaluation of historical mineral occurrences. -0- NOTE: Location map available from the Company at the phone number listed below. The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release. CONTACT: Brandon Gold Corporation Ian MacLean, 604/ 623-4747 |
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