Deal will fund exploration of the Covas, Borralha and Bejanca projects
By Devika Patel
Knoxville, Tenn., Jan. 11 - Blackheath Resources Inc. announced it will raise C$1.05 million in a non-brokered private placement of units.
The company will sell 3 million units of one common share and one warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.50 for three years. The strike price reflects a 25% premium to the Jan. 10 closing share price of C$0.40.
Proceeds will be used for exploration of the Covas, Borralha and Bejanca tungsten projects in northern Portugal and general working capital purposes.
Blackheath is a Vancouver, B.C., gold, tungsten and tin exploration company.
| Issuer: | Blackheath Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.05 million
|
| Units: | 3 million
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 11
|
| Stock symbol: | TSX Venture: BHR
|
| Stock price: | C$0.40 at close Jan. 10
|
| Market capitalization: | C$5.03 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
