Brascan Announces Update to Terms of Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
| BRASCAN ANNOUNCES UPDATE TO TERMS OF NON-BROKERED PRIVATE PLACEMENT | |||
| Vancouver, BC, April | 4, 2023 | – Brascan Gold Inc. (CSE:BRAS) (the “Company” or “Brascan”), | is pleased |
to announce an update to the terms of the non-brokered private placement it previously announced on March 21, 2023 (the “Private Placement”).
The Private Placement of up to 20,000,000 units of the Company (each, a “Unit”) will now be at a price of $0.035 per Unit, for aggregate gross proceeds of up to $700,000. Each Unit will be composed of one (1) common share and one-half of one (1/2) common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will now entitle the holder thereof to acquire one (1) additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.07 per Warrant Share for a period of 24 months from the closing date of the Private Placement.
| Other than the decrease in the price of the Units, the decrease in the exercise price of the Warrants, and | |
|---|---|
| the decrease in the maximum aggregate gross proceeds of the Private Placement, all other terms and | |
| conditions of the Private Placement remain unchanged, as described in the press release dated March 21, | |
| 2023. | The Private Placement remains subject to certain conditions including, but not limited to, receipt of |
all necessary approvals including the approval of the Canadian Securities Exchange.
The securities to be issued pursuant to the Private Placement have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About the Company
Brascan (CSE: BRAS) is a Lithium and Gold exploration issuer based in Vancouver, B.C. BRAS owns a 100% interest in the Quebec-Li properties in northern Quebec. The Company also owns 100% of the Albany Forks Rare Earth Elements (REE) property in northern Ontario, options to earn 100% interests in two lithium properties in Minas Gerais State in Brazil and an option to earn 100% of the Alegre Gold Project in Para State in Northeastern Brazil.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
Contact Information
Balbir Johal Director and CEO Telephone: 604 812 1747 Email: [email protected]
Forward-Looking Statements
This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements respecting the terms of the Private Placement are "forward-looking information". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
1417-1066-9058, v. 2