BCGold Corp. completes $1.5m private placement financing

BCGold Corp. reports its completion of $1.5 million private placement financing.

BCGold is pleased that Kinross Gold Corporation (“Kinross”) subscribed for 1,025,000 of the NFT Units. Kinross previously held 3,000,000 common shares of BCGold, representing approximately 12.7% of the issued and outstanding common shares of BCGold prior to the financing. As a result of the financing, Kinross holds 4,025,000 common shares and 512,500 common shares purchase warrants of BCGold, representing approximately 13.0% (basic) of the issued and outstanding common shares of BCGold following the completion of the financing. BCGold relied on the formal valuation and minority approval exemptions in subsections 5.5(a) and 5.7(a), respectively, of Multilateral Instrument 61-101 and the financing was completed less than 21 days before the issuance of a material change report with respect to the financing for commercial reasons. The participation of Kinross in the financing was approved by the Board of Directors of BCGold.

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