2 Non-Brokered Financings You Need to Know About (Aug. 30 - Sept. 3)

Despite private placements being on the rise overall (as covered in an article from the TSX/TSX-V on Tuesday) this has been a slow week for private placements, hence why we've cut our usual top three financings to two in this edition. Still, there are interesting deals being made. Read on for all the details.

1. BCM Resources Corp. (TSX-V: B) 

• Gross Proceeds: $1.1 million
• Sector: Precious metals
• Units issued: 10 million
• Type: Special units
• Price: $0.11
• Warrants: Full; $0.16; One year
• Agents: Non-brokered
• Use of Proceeds: Drill program

Company breakdown:

• Copper-gold junior focused on the Thompson Knolls property in Utah
• Proceeds will be used to continue the ongoing drill program at the property's Greenfield copper-gold-molybdenum project 
• Interesting note: the strike price for the warrants from the offering are cheaper than the units from the offering itself
• Shares are down a cent since announcing the private placement, closing at 15.5 cents on Friday

2. Glen Eagle Resources (TSX-V: GER)

• Gross Proceeds: $1 million
• Sector: Precious metals
• Units issued: 14.29 million
• Type: Special units
• Price: $0.07
• Warrants: Full; $0.085; Two years
• Agents: Non-brokered
• Use of Proceeds: Working capital

Company breakdown:

• Gold junior focused on projects in Honduras
  Rock samples taken from its Piedra Dorada concession average 4 grams of gold per tonne
  Surface outcrop at 50% participating interest concession Moloncosa returned 3 grams of gold per tonne
  Shares have doubled in value since Aug. 23, amid a volume spike, its financial filings and the private placement, to close at 12 cents on Friday