Silver Quest Resources Ltd. (TSXV:SQI) announced that it has closed its brokered private placement for gross proceeds of $8 million.

The press release is quoted as saying:

BayFront Capital Partners Ltd. acted as Agent for the Offering and received a cash commission of 7% of the aggregate gross proceeds of FT Shares and Units sold by the Agent under the Offering, together with a corporate finance fee of $56,500 and 605,669 broker units (“Broker Units”) representing 6% of the total number of FT Shares and Units sold by the Agent under the Offering.

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