VANCOUVER (Yosefardi) – Barisan Gold Corporation has Thursday last week (Nov. 5) closed the non-brokered private placement previously announced on September 30, 2015 and October 1, 2015 through the issuance of 25,000,000 units at a price of $0.02 per unit for gross proceeds of $500,000.
The proceeds of the financing will primarily be used to maintain or preserve the Issuer’s existing operations, activities and assets in regard of the Upper Tengkereng project in Indonesia: $350,000 for exploration work; $100,000 for employees and $50,000 towards administration.
This successful completion of the private placement is an important step in the proposed transaction Barisan Gold entered into under a preliminary agreement with a prominent Indonesian group, to jointly advance Barisan’s Indonesian properties previously announced September 30, 2015.