Brilliant Mining Corp. Announces Closing of $1 Million Private Placement
16 Oktober 2009 - 9:57PM
Marketwired
Brilliant Mining Corp. (TSX VENTURE: BLT) ("Brilliant") today
announced that it has closed a non-brokered private placement of
6,666,666 units of Brilliant (each a "Unit") at a price of $0.15
per Unit for gross proceeds of $999,999.90. Each Unit consisted of
one common share of Brilliant ("Common Share") and one
non-transferable share purchase warrant ("Warrant") entitling the
holder to acquire one additional Common Share at a price of $0.20
per share until October 15, 2014.
The Units were sold to qualified purchasers in reliance upon
exemptions from the prospectus and registration requirements of
applicable securities legislation. In connection with the sale of
an aggregate of 2,000,000 Units, Brilliant paid Canaccord Capital
Corporation and PI Financial Corp. aggregate finder's fees in the
sum of $15,000 (equal to 5% of the proceeds from the sale of the
2,000,000 Units) and granted non-transferable share purchase
warrants ("Finder's Warrants") to acquire an aggregate of 100,000
Common Shares (equal to 5% of the 2,000,000 Units) on the same
terms as the Warrants. The Common Shares and Warrants comprising
the Units, the Finder's Warrants and the Common Shares issuable on
exercise of the Warrants and Finder's Warrants are subject to a
restricted period expiring on February 16, 2010.
About Brilliant Mining Corp.
Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award
winning resource company in search of undervalued resource
opportunities. Brilliant's internationally experienced technical
team and Board of Directors aim to leverage their broad range of
expertise to acquire and develop high quality, advanced stage
mineral projects.
On behalf of the Board of Directors
John Williamson, P. Geol., CEO, President & Director
Brilliant Mining Corp.
For further information about Brilliant Mining Corp. or this
news release, please visit our website www.brilliantmining.com.
Brilliant Mining Corp. is a member of the Discovery Group of
Companies, for more information on the group visit
www.discoveryexp.com.
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 release.
Contacts: Brilliant Mining Corp. Derek Iwanaka Manager, Investor
Relations 604-646-4524 info@brilliantmining.com
www.brilliantmining.com
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