Receives $2,006,373 From Warrant Exercise
Vancouver, Oct 21, 2014 AEST (ABN Newswire) - Balmoral Resources Ltd. (
TSE:BAR) (BALMF:OTCMKTS) ("Balmoral" or the "Company") reported that it has received a total of $2,006,373 from the exercise of warrants which expired October 17, 2014. An additional 470,588 warrants, held by a single subscriber, are eligible to be exercised on, or before, October 30, 2014 at a strike price of $0.75.
The Company currently has a cash balance of approximately $7.1 million and working capital (which includes short term tax recoveries and publically traded shares) of approximately $7.7 million. Balmoral currently has 103,710,933 shares issued and outstanding. The Company announced a bought deal, flow-through private placement to raise an additional $10.3 million on October 15, 2014 (see NR14-25).
About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Canadian-based discovery company focused on high-grade gold and nickel discoveries on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold and base metal assets.
About Balmoral Resources Ltd
Balmoral Resources Ltd. (
TSE:BAR) (OTCMKTS:BALMF) is a Canadian-based discovery company focused on high-grade nickel and gold discoveries on its wholly owned, 700+ square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian base metal and gold assets.
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