Balmoral Resources Ltd (TSX:BAR) announced a non-brokered private placement of 8,930,000 Quebec flow-through common shares at a price of CAD 0.51 for the total gross proceeds of CAD 4,554,300 on December 16, 2019. The company may pay finder's fees in cash. The transaction is expected to close by December 27, 2019. The transaction is subject to certain conditions including receipt of regulatory approvals, including the acceptance by the TSX Venture Exchange. The common shares to be issued under the transaction will be subject to a four month hold period under applicable securities laws in Canada.