|December 09, 2013|
Brandenburg Closes Second Tranche of Oversubscribed Placement
|December 9, 2013, Vancouver, BC: Brandenburg Energy Corp. (TSXV:BBM) ("Brandenburg" or the "Company") is pleased to announce that it has closed the second and final tranche of its private placement. In its initial news release of October 11, 2013, the Company announced that it would be raising $600,000 by the sale of 12,000,000 units. The proceeds raised through the first and this second tranche total $632,000 by sale of 12,640,000 units, representing an oversubscription of $32,000 or 640,000 units.|
In the second tranche, the Company issued 7,890,000 units at $0.05 per unit for total gross proceeds of $394,500. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share until December 9, 2016, with one-half of the warrants exercisable at a price of $0.05 per share and one-half of the warrants exercisable at a price of $0.10 per share.
For its efforts in introducing certain placees to the Company, the Company paid $1,000 cash and issued 20,000 non-transferable share purchase warrants, each warrant exercisable into one common share of the Company at a price of $0.05 per share until December 9, 2016.
All securities issued under the placement are subject to hold periods expiring on April 10, 2014.
Proceeds of the placement will be used to pay certain existing debt and for general working capital.
On behalf of the Board of Directors
BRANDENBURG ENERGY CORP.
President and CEO
For further information, please contact:
Robert Findlay at 604.669.9330
We seek Safe Harbor.
Neither 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.
You can view the Previous News Releases item: Thu Oct 31, 2013, Brandenburg Closes First Tranche of Placement
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