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  • Mr. Richard Penn

BLACK TUSK CLOSES $1.01-MILLION PRIVATE PLACEMENT

Mr. Richard Penn reports


BLACK TUSK CLOSES $1,015,000 FLOW THROUGH PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed a flow-through private placement for gross proceeds of $1,015,000, issuing a total of 3,125,000 flow-through common shares at a price of eight cents per share and 9,562,500 units (as defined herein) at a price of eight cents per unit.


Each unit consists of one flow-through common share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase a non-flow-through share at a price of 10 cents per share for a two-year term.


The company paid finders' fees to Roche Securities Ltd., Leede Jones Gable Inc. and EMD Financial Inc., consisting of: $68,704; 179,400 common shares; and 679,400 warrants.

The securities issued will be subject to a four-month-and-one-day hold from the date of issuance.


The proceeds from the offering will be for mineral exploration activities in Quebec.


We seek Safe Harbor.

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