Banks Island Gold Ltd. announced that it has received CAD 0.67 million in funding
On December 29, 2014, the company announced that it has received CAD 510,000 in first tranche of the transaction. The company issued 2,550,000 flow-through shares. Secutor Capital Management Corp. acted as finder for the transaction.
On January 5, 2015, the company announced that it has received CAD 369,950 in second tranche of the transaction. The company issued 1,600,000 flow-through shares and 333,000 units. The company paid certain finders, a fee equal to 8% of the gross proceeds received by the company from the sale of certain flow through shares.
On January 9, 2015, the company announced that it has amended the terms of the transaction. The company will now issue 8,666,666 units at a price of CAD 0.15 per unit for gross proceeds of CAD 1,299,999.9. The company intends to close transaction on or before February 28, 2015.
On February 3, 2015, Banks Island Gold Ltd. (OTCPK:BKSL.F) closed the transaction. The transaction included participation from 11 placees. The company issued 4,150,000 flow-through shares, and 333,000 non-flow through shares. Benjamin Mossman subscribed 333,000 units. The company will pay finder's fee of CAD 38,800 to Secutor Capital Management Corp, and CAD 8,000 to Ensign Capital Inc. TSX Venture Exchange has accepted filing documentation with respect to the transaction.