Welcome To The Bralorne Gold Mines HUB On AGORACOM
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Message: Arranges Non-Brokered Private Placement
| May 7, 2009 |
| Bralorne Arranges Non-Brokered Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2009) - Bralorne Gold Mines Ltd. (the "Company") (TSX VENTURE:BPM)(PINK SHEETS:BPMSF)(BERLIN:GV7)(FRANKFURT:... A0B75M) has arranged a non-brokered private placement of up to 2,000,000 units consisting of 500,000 common share units at a price of $0.95 per unit, 1,000,000 flow through shares at a price of $1.10 per share, and 500,000 "Super" flow through shares at a price of $1.20 per share. The 500,000 common shares units consist of one common share and one non-transferable share purchase warrant ("warrant"). Each warrant will entitle the investor to purchase one additional common share at an exercise price of $1.25 per share for a period of 18 months from the date of closing. The flow-through and Super flow-through shares will entitle the investor to the tax benefits of the qualifying Canadian exploration expenses incurred by the Company, which will be "flowed-through" to the investor. The agent will receive from the Company compensation options equal to 2% of the number of shares under this private placement at a price of $1.25 per share for a period of 18 months. The Company will pay a finder's fee equal to 6% of the proceeds of this financing in accordance with TSX Venture Exchange Policy. In addition compensation options equal to 8% of the units placed under this financing will be granted at a price of 1.25 per option for a period of 18 months. The net proceeds of the offerings will be used for additional exploration and development work on the Company's mining properties and for general working capital requirements. The above transactions will be subject to regulatory approval. ON BEHALF OF THE BOARD William Kocken, President |
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