Black Widow Resources Inc. Announces Cdn$240,000 Private Placement Financing
23 Mai 2014 - 3:00PM
Marketwired
Black Widow Resources Inc. Announces Cdn$240,000 Private Placement
Financing
TORONTO, ONTARIO--(Marketwired - May 23, 2014) - 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 100 Units ("Units") at Cdn$2,400.00 per Unit
for aggregate gross proceeds of up to Cdn$240,000 (the
"Offering").
Each Unit consists of ten thousand (10,000) common shares (a
"Common Share") of the Company plus twenty-two thousand five
hundred (22,500) Flow Through Common Shares, plus one purchase
warrant (a "Warrant") of the Company for each share purchased, or
thirty-two thousand five hundred (32,500) warrants. Each Warrant
will expire twenty four (24) months from the date of issue (the
"Warrant Expiry Date") and will entitle the holder thereof to
purchase one Common Share (a "Warrant Share") at a price of $0.10
per Warrant Share.
While the Offering is being effected by the Company on a
non-brokered basis, 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 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 common
share of the Company at a price of $0.10 per common share at any
time up until the Broker Warrant Expiry Date.
The flow through proceeds from the Offering will be used to
continue exploring the Company's Shunsby property (follow-up on
recent diamond drilling) and to advance exploration on the
Company's other properties. The non-flow through proceeds from the
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.
Black Widow is a 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 specialists with many
decades of operational experience in the junior resource sector.
There are currently 24,272,769 shares issued in Black Widow.
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.com
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