Brigadier Gold Limited Announces: Seeking Approval to Complete Non-Brokered Private Placement
TORONTO, March 13, 2018 (GLOBE NEWSWIRE) -- Brigadier Gold Ltd. ("Brigadier" or the "Corporation") (TSX-V:BRG.H) is pleased to announce that it will be seeking approval from the TSX Venture Exchange to complete a non-brokered private placement offering (the “Offering”) of up to $300,000 in gross proceeds based on the issuance of up to 3,000,000 units (“Units”) at a price of $0.10 per Unit. Each Unit will comprise of one common share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share at an exercise price of $0.15 for a period of 12 months from the closing of the Offering (the “Closing”). The Shares and Warrants will be subject to a resale restriction for a period of four months plus one day from Closing. The net proceeds of the private placement will be used for general corporate purposes while the Company continues to evaluate various corporate strategies and opportunities.
The Board of Directors of Brigadier believes that it will be able to deliver more value to its shareholders by changing its industry focus. Included in its evaluation, management is exploring the identification of assets or a corporation to acquire in Colombia’s burgeoning cannabis industry. Grant Hall explains “Colombia is an established global cannabis flower and cannabis oil producer with an optimal climate, low costs and ideal geographical positioning for international markets. Cannabis flower production costs average CAD$0.35 per gram in Colombia as compared to over CAD$3.00 per gram in Canada”.
While a review of potential acquisitions and transactions within the cannabis sector in Colombia is ongoing, there can be no assurance that any transaction within this sector will be consummated or will receive the required regulatory or shareholder approvals.
The Offering will be made available by way of private placement exemptions in Canada and may be offered in other jurisdictions where they can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The Offering is subject to a number of conditions including receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.
THE SHARES AND WARRANTS WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.
For further information, please contact Grant Hall, President and CEO at (520) 668-4101.
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.
Brigadier Gold Ltd.
Grant Hall, President & CEO