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Berkwood Resources to close funding of C$350,000

The company said it had received conditional approval from the TSX Venture Exchange to close its private placement, which raised more than C$350,000

graphite
The company owns the Lac Guéret Extensions Project, in Quebec, which is prospective for graphite.

Berkwood Resources Ltd (CVE:BKR) announced today it received conditional approval to close its private placement of C$352,641.96.

Funds raised will be used to develop the company's properties located in Quebec and for working capital.

Shares of the company perked up 6.7% at C$0.08 on Monday. 

The company said it will issue 3,918,244 units at C$0.09 per unit. Each unit comprises one common share and one warrant, with each whole warrant exercisable into one common share at a price of C$0.15 cents for a period of two years from closing.

The company said the securities will be subject to a four-month plus one day hold period and is still subject to final approval from the TSX Venture Exchange. 

The company owns the Lac Guéret Extensions Project, in Quebec, which is prospective for graphite.

It consists of 38 claims covering 2,052 hectares, while Berkwood also has an option to earn a 100%-interest in the Lac Guéret South Block, which consists of a further 106 claims for 5,714 hectares.

Quick facts: Berkwood Resources Ltd

Price: 0.025 CAD

TSX-V:BKR
Market: TSX-V
Market Cap: $1.59 m
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