pcNewsWire – Blind Creek Resources Ltd. (TSX-V: BCK) intends to close a non-brokered private placement of up to 8,000,000 units at $0.25 per unit for gross proceeds of up to $2,000,000.
Blind Creek Announces $2 Million Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / May 16, 2017 / Blind Creek Resources Ltd. (TSXV: BCK) is pleased to announce a non-brokered private placement of up to $2,000,000 through the issuance of up to 8,000,000 units (“Unit”) at a price of $0.25 per each Unit. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.40 per share for a period of one year from the date of closing of the financing.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder’s fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.
The proceeds from this financing will be used primarily to provide for costs associated with advancing the Blende and Engineer Gold Mine Properties, and for general working capital.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Blind Creek
Blind Creek is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 14 years. The Company’s primary focus is zinc-lead silver, and more recently gold and silver exploration and development in British Columbia, Yukon and the Northwest Territories. The Company’s flagship property is the Blende Project in north-central Yukon, one of the largest undeveloped Zn-Pb-Ag deposits in Western Canada. More recently the company has acquired a 100% interest in the historic and fully-permitted Engineer Gold Mine, situated 32 km southwest of Atlin, B.C. While the Company will remain focused on developing its key Blende Project, the Company recently tripled the Engineer Gold Mine property size to 11,556 hectares and plans to commence a 2017 work program that is to include soil geochemical surveys, trenching, geological mapping, sampling, diamond drilling and preparation of a NI43-101 technical report.
On behalf of the Board of Directors,
Mr. Brian P. Fowler, P.Geo.
Tel: (604) 617-8191
For further information, please contact:
Mr. Brook Bellian (778) 883-7869
Mr. Nelson Da Silva (604) 722-0041
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
SOURCE: Blind Creek Resources Ltd.