Braveheart Resources Inc. Closes Financing
TORONTO, ONTARIO, July 28, 2017 — Braveheart Resources Inc. (TSXV: BHT) (“Braveheart” or, the “Company”) has completed the first tranche of a non-brokered private placement financing consisting of 2,166,667 flow-through units at $0.06 per flow-through unit and 5,333,333 units at $0.06 per unit for gross proceeds of $450,000. The Company intends to close additional tranches of the financing for gross proceeds of up to $750,000 comprised of either units or flow-through units.
The units are comprised of one common share and one common share purchase warrant, with each warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.12 per share for 24 months. The flow-through units are comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.12 per share for 24 months.
The proceeds of the financing will be used to advance the Company’s exploration efforts in British Columbia and for general working capital.
All securities issued pursuant to the financing will be subject to a four month hold period.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior exploration company focused on building shareholder wealth through aggressive exploration in a favorable and proven mining jurisdiction – the West Kootenays in southeast British Columbia (silver and gold). Particular focus is on the Alpine Mine, a past producing property 20 km northeast of Nelson. Braveheart’s shares are listed for trading on the TSX Venture Exchange under the symbol BHT.V. Braveheart currently has 34,581,173 common shares issued and outstanding.
Braveheart’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Mr. Jim Decker, P.Eng., a consultant to Braveheart who serves as a qualified person under the definition of National Instrument 43-101.
Phil Keele, P.Eng,. President and CEO