Barisan Gold: Closes $500,000 Private Placement

Press Releases |

VANCOUVER, BRITISH COLUMBIA--(Nov. 5, 2015) - Barisan Gold Corporation (BG:CA) has closed the non-brokered private placement previously announced on September 30, 2015 and October 1, 2015 through the issuance of 25,000,000 units at a price of $0.02 per unit for gross proceeds of $500,000. Each unit consist of one common share and one non-transferable common share purchase warrant. Each share purchase warrant will entitle the holder to purchase one further common share of the Company within two years at the price of $0.05 per share.

The proceeds of the financing will primarily be used to maintain or preserve the Issuer's existing operations, activities and assets in regard of the Upper Tengkereng project in Indonesia: $350,000 for exploration work; $100,000 for employees and $50,000 towards administration.

Due to overwhelming interest in the private placement the entire allotment was subscribed to by new and existing shareholders.



This successful completion of the private placement is an important step in the proposed transaction Barisan Gold entered into under a preliminary agreement with a prominent Indonesian group, to jointly advance Barisan's Indonesian properties previously announced September 30, 2015.

All of the securities issued under the private placement are subject to a four-month hold period expiring March 4th, 2016.

Neither 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.

 

Contact Information

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Margaux Resources Ltd.

Margaux Resources Ltd is a Calgary based resource company. The Company is focused on its Jersey Emeral Tungsten-Zinc property located in the southeast portion of British Columbia.

Private Markets

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.

GoCoin

Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…