Gowling WLG advises Balmoral Resources Ltd. on $7.1-million bought deal private placement

30 June 2016

On June 30, 2016, Balmoral Resources Ltd. closed its ‘flow-through’ private placement, including the full exercise of the over-allotment option. Balmoral issued 4,714,163 national class flow-through common shares at a price of $0.90 per share and 2,405,837 Québec class flow-through common shares at a price of $1.20 per share, for aggregate proceeds of $7,129,751.

The private placement was underwritten by a syndicate of underwriters co-led by Canaccord Genuity Corp. and Mackie Research Capital Corporation, and including GMP Securities LP.

Balmoral is a Canadian-based exploration company delineating and expanding the high-grade Bug Lake Gold Trend on its wholly owned 700-square kilometre Detour Trend Project in Québec, Canada.

Gowling WLG advised Balmoral Resources Ltd. with a team led by Daniel M. Allen that included A. Brent Kerr, Denis G. Silva, Brett A. Kagetsu, Martine Guimond, Alain Lalonde and Marc-André Godard.

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