Balmoral Closes $4.1 Mln Private Placement of Flow-Through Common Shares

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Balmoral Closes $4.1 Mln Private Placement of Flow-Through Common Shares

posted on Sep 15, 2017 08:48PM

2017-09-15 03:52:58 PM ET (MT Newswires)

03:52 PM EDT, 09/15/2017 (MT Newswires) -- Balmoral Resources (BAR.TO) shares have been trading at $0.66 for most of the day and look set to close there after overcoming a slight blip that took it back to its open price of $0.65 around about the time the company said it closed its previously announced flow-through private placement, issuing 5.72 million flow-through common shares at $0.71 each for gross proceeds of $4.1 million.

The company will use the proceeds from the offering to continue exploration at its Detour Gold Trend project in Quebec, and for the exploration of its other gold properties in Canada.