Golden Briar Mines has filed a prospectus for $1,350,000 with the Quebec Securities Commission with funds to be spent on the company’s Casa Berardi properties, where two drills are currently working. The offering consists of a maximum of 404 units, consisting of 3,500 flow-through shares at 70 cents per share and 1,000 common shares at 55 cents per share.
Each unit has 4,500 share purchase warrants, with two warrants entitling the holder to purchase one common share at 75 cents until Dec 11.
There is also an offering of 250,910 common shares at 55 cents .
Golden Briar proposes to acquire joint ventures signed with Pennant Resources, J-Q Resources and Gold Medal Resources on three groups of 25 mining claims adjoining Golden Briar’s Casa Berardi properties. A 60% interest may be earned by spending $500,000 on each group over four years. An additional 18 claims are to be purchased outright.
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