VANCOUVER, BC / ACCESSWIRE / March 20, 2017 / Barisan Gold Corporation (TSXV: BG) (the "Company") is pleased to announce that due to investor interest the company is increasing the private placement announced March 9th, 2017 from $500,000 to up to $750,000.
The private placement is priced at a post consolidated (5 old shares to 1 new share) price of $0.10 per unit. Each unit will consist of one common share of the Company and one non-transferable share purchase warrant. Each whole share purchase warrant shall be exercisable to acquire one additional common share of the Company for a period of 24 months at a post consolidated price of $0.15 per share purchase warrant.
The Company intends to use the proceeds from the private placement to review further technology metal investment opportunities, finance exploration on the Railroad Valley Lithium brine property, and the Black Canyon Lithium clay property, as well as general administrative purposes. The private placement is subject to acceptance by the TSX Venture Exchange. All the securities issued under the private placement are subject to resale restrictions under applicable securities legislation.
The offering will be non-brokered; however, the Company may pay finders' fees in accordance with the rules and policies of the TSX Venture Exchange.
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.
FOR FURTHER INFORMATION, visit the Company's website at www.barisangold.com, or contact the company at: Vancouver T: +1 604 365 6681 E: [email protected]
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs at the Company's Upper Tengkereng Porphyry prospect, results and timing of any work programs, the Company's performance or events as of the date hereof. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
SOURCE: Barisan Gold Corp.