CEF completes standby purchase of Barisan Gold units
Thursday, September 29 2011 - 03:26 AM WIB
Barisan Gold Corporation, a Canadian gold and copper exploration company, said that CEF (Capital Markets) Ltd., a wholly-owned subsidiary of CEF Holdings Ltd. has closed the purchase of its units, pursuant to the standby purchase agreement in relation to the previously announced C$11.2 million rights offering.
Under the terms of the standby purchase agreement between Barisan Gold and CEF Holdings Ltd., CEF Holdings has designated CEF (Capital Markets) to purchase 9,007,417 units comprising 9,007,417 common shares and 4,503,708 warrants for gross proceeds of approximately C$5.0 million.
CEF (Capital Markets) Ltd. now holds 9,007,417 common shares or approximately 22 percent of the total number of Barisan Gold's common shares issued and outstanding and 4,503,708 warrants.
A total of 40,706,186 common shares and 10,176,546 warrants of Barisan Gold are now issued and outstanding. (romel)