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Banks Island Gold Ltd Increases Flow-Through Common Share Financing to $3,200,000


Thursday, 13 Dec 2012 06:02pm EST 

Banks Island Gold Ltd announced it will increase the non-brokered private placement disclosed in the news release dated December 10th 2012 (the Non-Brokered Offering) from 2,916,666 units to 3,809,524 units (a Unit) at a price of $0.84 per Unit, to raise gross proceeds of $3,200,000. Each Unit consists of one flow-through common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of eighteen (18) months from the date of issuance at a price of $1.09 per warrant share. Finder's fees may be payable in connection with the Non-Brokered Offering in accordance with the policies of the TSX Venture Exchange. The Company intends to use the net proceeds of the Non-Brokered Offering for exploration activities on its mineral properties located in British Columbia. Closing of the Non-Brokered Offering is anticipated to occur on or before December 31, 2012. 

Company Quote

0.47
-0.015 -3.09%
27 Aug 2014