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Britannica Resources Corp. |
Val d’Or, Quebec J9P 2H1 Tel : 819 825-9311 Fax : |
TSX Venture SYMBOL:
December
14, 2009
Britannica Arranges Financing
Britannica Resources Corp. (“the Company”; BRR – TSX Venture) is pleased to announce it is arranging a non-brokered
flow-through private placement of up to 3,888,889 common shares at $0.18 cents
per share for gross proceeds of $700,000.
The Company shall
pay a cash finder’s fee of 7% of the gross proceeds of the private placement
and agents warrants equal to 7% of the total number of shares sold, will be
payable to the agent upon closing of the private placement. Each agent’s
warrant will entitle the holder to purchase one common share of the Company at
an exercise price of $0.18 for a period of 12 months.
The proceeds from the financing will be used
for exploration on the Company's Quebec properties.
Closing of the financing is scheduled to occur on
or before December 29, 2009 and is subject to certain
conditions, including the acceptance of the terms of the financing by the TSX
Venture Exchange.
McKenzie Break
At the
McKenzie Break project, all ground support including rock bolting and screening
of the portal walls are nearing completion. Decline underground construction is
scheduled to begin in early January. Construction
of all surface buildings, compressor and genset installations are complete and
operational.
Please
visit Britannica Resources Corp. web
site (www.brrgold.com ) for more
information about the Company.
ON BEHALF OF THE BOARD
“Jeffrey A. Cocks”
Jeffrey A. Cocks
President
FOR FURTHER INFORMATION PLEASE CONTACT: Britannica Resources Corp.
(TEL)- (819) 825-9311, (FAX)-(819) 825-1199
Email: info@brrgold.com
Website: www.brrgold.com
THE TSX VENTURE EXCHANGE