December 28, 2012 No: 12-29
Berkwood Closes Non-Brokered Private Placement
Berkwood Resources Ltd. (TSX-V: BKR) (“Berkwood” or the “Company”) has closed its previously announced non-brokered private placement by issuing 2,298,111 flow-through common shares at a price of $0.09 per flow-through share for gross proceeds of $206,830 and 1,103,000 units at a price of $0.075 cents per unit for gross proceeds of $82,725, for combined gross proceeds of $289,555. Each unit consists of one common share plus one-half of one share purchase warrant with each warrant entitling the holder to purchase one additional common share of the Company at $0.10 cents per share for the period of two years. For further information regarding the financing, please see the Company's press releases that were issued on November 1 and November 9, 2012.
The proceeds of this private placement will be used for exploration programs, acquisition of properties and general working capital. Finder's fees consisting of $13,456.40 and $1,080 in cash and 42,240 units were paid in accordance with the policies of the TSX Venture Exchange. The shares and warrants issued by the Company are subject to a four month hold period, which expires on April 29, 2013.
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On Behalf of Berkwood Resources
Brian Buchanan, President and Director
For additional information please contact:
Karim Sayani, Corporate Communications
Tom Steer, Media Relations Manager
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.