GREY:BFDRF - Post by User
Post by
Kwikwion Oct 09, 2015 8:30pm
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Post# 24181417
Why a PP? they have 3M in the treasury?
Why a PP? they have 3M in the treasury? EAUFIELD COMPLETES A PRIVATE PLACEMENT OF $200,000
Beaufield Resources Inc. has closed a non-brokered private placement pursuant to which the corporation issued a total of four million units at a price of five cents per unit for aggregate gross proceeds to the corporation of $200,000. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. Each warrant shall be exercisable into one additional common share at an exercise price of seven cents for 36 months from the closing of the offering. Capital Croissance PME II sec (CCPME) and Societe de developpement de la Baie-James (SDBJ) have subscribed to the offering.
The corporation will use the net proceeds of the offering for an upcoming winter drilling program on its 100-per-cent-owned Urban property situated in the James Bay territory where several new targets have been discovered on the property in 2015. A recently completed deep-penetrating induced polarization survey identified several important geophysical anomalies requiring drill testing (BFD news release, Aug. 1, 2014). Drill targets will also include areas where new copper-gold-molybdenite mineralization has been recently uncovered. The 1,500-metre drill program is planned to start in January, 2016.
I thought thet started drilling in September?
Jens what is going on?