| Beaufield completes $537,500 Institutional Lead Flow-Through Financing | |
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July 14, 2016
Beaufield Resources Inc. ('Beaufield' or the 'Corporation') is pleased to announce that it has closed a non-brokered private placement with three placees pursuant to which the Corporation issued a total of 4,300,000 flow-through common shares of the Corporation (the 'Flow-Through Shares') at a price of $0.125 per Flow-Through Share, for aggregate gross proceeds to the Corporation of $537,500 (the 'Offering'). The placees include two institutional funds and one insider.
The Corporation will use the proceeds of the Offering to finance qualified Canadian exploration expenditures on its properties in Canada. In connection with the Offering, the Corporation entered into finder's fee agreements with arm length parties (the 'Finders') pursuant to which the Corporation paid a cash finder's fee in an aggregate amount of $37,500 and issued 300,000 non-transferable warrants (the 'Finder's Warrants') with respect to certain subscriptions. Each Finder's Warrant entitling the Finder thereof to purchase one additional common share of the Corporation at a price of $0.125 for a period of 18 months following the closing of the
Offering.Securities issued under the Offering will be subject to a four month hold period expiring on November 15, 2016.
The Offering was completed on a private placement basis pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. An insider of the Corporation has subscribed an aggregate of 300,000 Flow-Through Shares for an amount of $37,500. As a result of the private placement, 135,431,519 common shares of Beaufield are issued and outstanding.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Beaufield:
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield's focus is drilling at Urban. The Corporation is actively exploring, well financed with approximately $3 million in cash, has no debt and has excess work credits on its properties. Beaufield Contact
Jens E. Hansen, President and CEO : Tel: 514.842.3443
Mathieu Stephens, VP Exploration and Corporate Development: Tel: 613.721.2919
E-mail: [email protected]
Web: www.beaufield.com
Investor Relations Europe
Kai Hoffmann, Soar Financial Partners
E: [email protected] / T: +49 69 175 54832 0
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PRODUCER |
CODE : BFD.V |
ISIN : CA0743271078 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Beaufield Res. is a nickel and palladium producing company based in . Beaufield Res. produces nickel, palladium, gold in Canada, and holds various exploration projects in Canada. Its main asset in production is HIAWATHA GOLD MINE in Canada and its main exploration properties are CASA BERARDI QUEBEC, MAINSTREET, TROILUS / TORTIGNY, OPINACA, NORTHERN EAGLE GOLD, OPI-WEST, RAGLAN UNGAVA, LAB, TORTIGNY, LAC ROULEAU, HEMLO, LAC EVANS/STORM LAKE and MAINSTREET (LOUVICOURT TWP) in Canada. Beaufield Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 26.1 millions as of today (US$ 20.0 millions, € 17.4 millions). Its stock quote reached its highest recent level on May 12, 2006 at CA$ 1.27, and its lowest recent point on February 05, 2016 at CA$ 0.03. Beaufield Res. has 180 280 000 shares outstanding. |