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.