Berkwood Resources Ltd. Closes 2nd Tranche of Non-Brokered Private Placement

Berkwood Resources Ltd. (“Berkwood”) (TSXV:BKR) announces it has received conditional approval from the TSX Venture Exchange and now will close a 2nd tranche and issue 2,314,655 units at $0.29 for gross proceeds of $671,249.95. Each unit will be comprised of one common share and one warrant, with each whole warrant exercisable at a price of $0.35 for a period of two years from closing.
A finder’s fee of $1,160 cash and the issuance of 4,000 warrants will be paid/issued to PI Financial Corp. and 14,000 common shares and 14,000 warrants will be issued to Devon Capital Inc.
All securities will be subject to a four-month plus one day hold period from the closing.
Proceeds of the private placement will be used to develop the Company’s properties located in Quebec and general working capital.
The issuance of the securities and the payment of the finder’s fee is subject to final approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Signed: “Thomas Yingling”
Thomas Yingling,
President and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
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.
 
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Source: berkwoodresources.com