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  • Brascan Gold (BRAS) intends to complete a non-brokered private placement for gross proceeds of up to $2,400,000
  • The company will issue 8,000,000 units at a price of $0.30 per unit
  • roceeds will be used for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland
  • Brascan is a Vancouver-based gold exploration company
  • Brascan Gold Inc. (BRAS) opened trading at C$0.40 per share

Brascan Gold (BRAS) intends to complete a non-brokered private placement for gross proceeds of up to $2,400,000.

The company will issue 8,000,000 units at a price of $0.30 per unit. Each unit will consist of one common share and one-half of one transferable common share purchase warrant. Each warrant may be exercised to purchase a common share of Brascan at a price of $0.40.

Proceeds will be used for exploration expenditures and working capital and to acquire and explore additional gold properties in Brazil and Newfoundland. The company may pay finder’s fees to eligible parties.

All securities issued will be subject to a four-month statutory hold period.

The securities will not be offered in the United States.

Brascan is a Vancouver-based gold exploration company. The company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC.

Brascan Gold Inc. (BRAS) opened trading at C$0.40 per share.

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