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Balmoral Resources brings in C$2mln from Quebec-based institutional investors

The company issued over 3.44mln shares at 58 cents each, it said

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Pictured - Canadian dollars

Balmoral Resources Ltd (TSE:BAR, OTCQX:BALMF) has closed its previously announced private placing, raising C$2mln.

The placing was with four institutional investors.

They are 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, all based in the Province of Quebec.

The company issued over 3.44mln shares at 58 cents each and proceeds will go towards exploration of its Detour Gold Trend project in Quebec and for general working capital.

Balmoral shares stand today in Toronto at 55 cents.

Quick facts: Balmoral Resources Ltd

Price: 0.325 CAD

TSX:BAR
Market: TSX
Market Cap: $54.88 m
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Darin Wagner, chief executive and president at Balmoral Resources Ltd (TSE:BAR, OTCQX: BALMF) tells Proactive they're continuing to see more good results from recent drilling at their Detour Gold trend project in Quebec. There the Bug South deposit has now been extended to a depth of...

on 19/7/17

2 min read