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| | September 03, 2009
COMPLETION OF BROKERED PRIVATE PLACEMENT EXTENDED 1,052,631 Flow-Through Units and 4,444,444 Units
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| | Bralorne Gold Mines Ltd. (the "Company") has not closed the brokered private placement announced on July 13, 2009 with MGI Securities Inc., and is still proceeding with this brokered private placement to raise up to 5,497,075 Units consisting of 4,444,444 Units at a price of $0.90 per Unit and 1,052,631 Flow-Through Units at a price of $0.95 per Flow-Through Unit, to raise an aggregate of $5,000,000.
An Extension has been obtained from the TSX Venture Exchange to extend the closing date to September 30, 2009 subject to price review upon receipt of final documentation.
The 4,444,444 Units will consist of one common share and one share purchase warrant ("Warrant"). Each Warrant will entitle the investor to purchase one additional common share at an exercise price of $1.25 per share for a period of 24 months from the date of closing, provided that if the Company's common shares close at $2.00 per share or more over 20 consecutive trading days, then the Company will have the right to require conversion of the Warrants.
The Flow-Through Units consist of one flow through share and one Warrant. The flow through shares will entitle the investor to the income tax benefits of the qualifying Canadian exploration expenses incurred by the Company, which will be "flowed-through" to the investor in accordance with Canadian income tax laws.
For further information, please contact:
Bill Kocken, Chief Executive Officer & President
Johnathon Smith, IRO
ON BEHALF OF THE BOARD
"William Kocken"
___________________________________
William Kocken,
Chief Executive Officer & President
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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