Britannica Increases Financing
18 November 2011 - 8:54AM
Marketwired
Britannica Resources Corp. ("the Company") (TSX VENTURE:BRR) is
pleased to announce that it has increased the previously announced
(see news release 10-12-11) non-brokered financing of $1,500,000 up
to $2,000,000.00.
The Company has arranged for a non-brokered private placement of
up to 10,000,000 units (the "Units") priced at $0.20 per Unit, for
maximum gross proceeds of $2,000,000 (the "Offering"). Each unit
will consist of one common (the "Common Share") share and one
common share purchase warrant (the "Warrant"). Each Warrant will
entitle the holder to purchase one additional common share in the
capital of the Company at a price of $0.35, for a period of 24
months following the closing of the Offering (the "Closing").
Proceeds from the Offering will be used to fund general working
capital requirements and to advance exploration on the Company's
Properties.
All securities to be issued in conjunction with the Offering
will be subject to a restrictive hold period ending 4 months and
one day following the closing date. All other terms of the
financing remain the same.
Closing of the financing is scheduled to occur on or before
November 30, 2011 and is subject to acceptance by the TSX Venture
Exchange.
ON BEHALF OF THE BOARD
Jeffrey Cocks, President
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.
Contacts: Britannica Resources Corp. Jeffrey Cocks President
(604) 608-6611 (604) 608-6620
(FAX)info@brrgold.comwww.brrgold.com
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