Brandon Gold Private Placement.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Feb. 23, 1998-- Brandon Gold Corpora corpora plural form of corpus. corpora albicantia see corpus albicans. corpora arenacea sandy or gritty bodies, found in the pineal body; appear to be of glial or stromal origin; have the structure of (VSE See DOS/VSE. VSE - Virtual Storage Extended :BG.) Brandon Gold Corporation (BG.V) is pleased to announce that it has negotiated a private placement of 1,700,000 units at a price of $1.00 each for a total of $1,700,000. Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to buy an additional share in the capital of the Company for a period of one year at a price of $1.00. A finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. is payable with respect to this private placement. The private placement is subject to regulatory acceptance. The proceeds from this private placement will be used for working capital and exploration on the Company's 1400 square kilometer land position in Sweden. Brandon plans to commence diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral on the western property block known as Kiruna within two weeks. The Company has completed airborne and ground geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. as well as 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 has identified 10 high priority drill targets within the Kiruna Block. Brandon will also commence an extensive exploration program on the eastern property block (Mauno) including basal till sampling and geochemistry to follow up on the existing geochemical and geophysical anomalies. The Mauno exploration program and diamond drilling at Kiruna will be conducted simultaneously. Management will announce a more detailed account of these programs within the next 7days. Subsequent to the closing of the acquisition of Daler Mining Corporation, the Company issued 75,000 common shares to Levesque Securities Inc. as a finder's fee in connection with the acquisition of Daler. The shares are subject to a 12 month hold period expiring February 23, 1999. BRANDON GOLD CORPORATION Scott Angus, President CONTACT: Brandon Gold Corporation Ian MacLean, 604/ 623-4707 |
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