Berkwood Resources Ltd. (“Berkwood” or the “Company”) (TSX-V: BKR) announces it has received conditional approval from the TSX Venture Exchange and now will close a private placement as to $320,000 and will issue 3,200,000 units at $0.10. Each unit will be comprised of one common share and one warrant, with each whole warrant exercisable into one common share at a price of $0.13 for a period of two years from closing. All securities will be subject to a four-month plus one day hold period from closing.
Proceeds of the private placement will be used to develop the Company’s properties located in Quebec and general working capital.
The issuance of the securities is subject to the final approval of the TSX Venture Exchange.
SIDEX and Fonds de solidarité FTQ participated in an amount of $100,000 each through FIELD-ACTION 2018, an initiative designed to encourage junior mining companies to perform field work in Québec while at the same time supporting their working capital.
SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2018, the organization had $14.3 billion in net assets, and through its current portfolio of investments has helped create and protect 194,746 jobs. The Fonds is a partner in 2,839 companies and has 667,417 shareholder-savers.
ON BEHALF OF THE BOARD
President and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
Neither 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 release.