By Devika Patel
Knoxville, Tenn., Aug. 29 - Black Pearl Minerals Consolidated Inc. announced that it has closed its previously announced private placement of shares, raising C$1.52 million. The deal was oversubscribed.
The company sold 7,597,500 flow-through common shares, including a greenshoe of 97,500 shares, at C$0.20 per share.
The securities have a four-month hold period.
The company paid C$106,365 in finders' fees to various individuals.
Proceeds will be used to buy ore-processing equipment and to extract the bulk sample for the company's Gold Dust advanced exploration project.
Black Pearl is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Black Pearl Minerals Consolidated Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$1,519,500
|
| Shares: | 7,597,500 (including greenshoe for 97,500 shares)
|
| Price: | C$0.20
|
| Placement agent: | Non-brokered
|
| Announcement date: | July 16
|
| Amended: | Aug. 22
|
| Settlement date: | Aug. 29
|
| Stock symbol: | TSX Venture: BLK
|
| Stock price: | C$0.22 at close July 16
|
| Stock price: | C$0.18 at close Aug. 21
|
| Stock price: | C$0.165 at close Aug. 28
|
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