Black Widow Resources Inc. Announces Cdn$1,460,000 Private Placement Financing
12 Décembre 2013 - 8:28PM
Marketwired
Black Widow Resources Inc. Announces Cdn$1,460,000 Private
Placement Financing
TORONTO, ONTARIO--(Marketwired - Dec 12, 2013) - Black Widow
Resources Inc. (TSX-VENTURE:BWR) ("Black Widow" or the "Company")
announces that it intends to complete a non-brokered private
placement offering of units ("Units") at Cdn$0.10 per Unit and
flow-through units ("FT Units") at Cdn$0.12 per FT Unit for
aggregate gross proceeds of up to Cdn$1,460,000 (the
"Offering").
Each Unit will consist of one common share and one common share
purchase warrant (a "Warrant"). Each FT Unit will consist of one
common share to be issued on a "flow-through" basis and one-half of
one Warrant. Each whole Warrant will entitle the holder to acquire
a further common share of the Company at a price of $0.15 per share
for the first year from the closing of the Unit Offering, $0.20 per
share for the second year from the closing of the Unit Offering and
$0.25 per share for the third year from the closing of the Unit
Offering.
In connection with the Offering, the Company may pay finder's
fees to arm's-length third parties consisting of: (i) cash
commission of up to 8% of the gross proceeds of the Offering; and
(ii) broker warrants ("Broker Warrants") in an amount up to 8% of
the total number of Units and FT Units issued under the Offering.
Each Broker Warrant will expire 24 months from the date of issue
(the "Broker Warrant Expiry Date") and will entitle the holder
thereof to purchase one Unit of the Company at a price of $0.10 per
Unit at any time up until the Broker Warrant Expiry Date.
The proceeds from the FT Unit offering will be used to advance
and execute a drilling program on the Company's Shunsby property
and to advance exploration on the Company's other properties. The
net proceeds from the Unit offering will be used for general
corporate purposes.
All securities to be issued under the Offering will be subject
to a four-month statutory hold period in Canada. For more
information on the Company and to see a copy of the term sheet and
the investors presentation in connection with this Offering please
go to the Company's web page at www.blackwidowresources.com.
About Black Widow Resources
Black Widow is a newly listed public company (TSX-VENTURE:BWR)
focused on exploring for base and precious metals, with exploration
projects in Northern Ontario, Canada. Management of Black Widow
includes an accomplished group of exploration/mining,
administrative and legal specialists with many decades of
operational experience in the junior resource sector.
Neither the Toronto Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For more information about Black Widow please visit our website:
www.blackwidowresources.com.
Black Widow Resources Inc.Neil Novak, P.Geo.President, CEO &
Director416-203-8636info@blackwidowresources.comwww.blackwidowresources.comCHF
Investor RelationsJeanny SoDirector of Operations416-868-1079 ext.
225jeanny@chfir.com
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