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Balmoral Resources to raise up to C$2mln from Quebec-based institutional investors

The company has closed its previously announced (August 16) non-brokered Quebec flow-through private placement; this stock issue is in addition to that.
Canadian dollars
The private placement will raise up to C$2mln

Balmoral Resources Ltd (TSE:BAR, OTCQX:BALMF) has arranged for a non-brokered private placement of common shares with four institutional investors.

All four investors - the Caisse de depot et placement du Quebec/Sodemex, Fonds regionaux de solidarite FTQ, Sidex Limited Partnership and the Societe de development de la Baie-James – are based in the Province of Quebec.

The private placement will raise up to C$2mln through the issuance of up to 3.45mln shares at 58 cents a pop.

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