03:05 PM EST, 11/08/2019 (MT Newswires) -- Balmoral Resources (BAR.TO) edged lower after the company on Friday said mining financier Eric Sprott took a stake in the junior miner, buying up more than half of the second tranche of a private placement.

The company said Sprott acquired 5.88 million of 9.36 million share units sold in the tranche. The units were priced at C$0.17 and were made up of a share and one half of an 18-month warrant to buy a second share for C$0.30.

The company raised a total C$1.59 million in the placement.

Balmoral shares were last seen down C$0.005 to C$0.22 on the Toronto Stock Exchange.

Price: 0.23, Change: 0.00, Percent Change: 0.00