• Mr. Richard Penn

BLACK TUSK CLOSES $281,449 FINAL TRANCHE OF FINANCING

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. CLOSES FINAL TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed its second and final tranche of its previously announced private placement (see press release dated June 7, 2019) issuing a total of 1,655,558 units at a price of 17 cents per unit for total proceeds of $281,449.95. Together with the first tranche, the private placement was oversubscribed with a total of 3,344,758 units issued for gross proceeds of $568,608.


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 an additional share at a price of 25 cents per share for a two-year term.


The proceeds of this flow-through offering will be used for the upcoming 2019 summer drill program on Black Tusk Resources' Golden Valley project in Abitibi, Que.


About Black Tusk Resources Inc.


Black Tusk is a gold-focused exploration company with mineral properties located in Quebec and British Columbia. The company has purchased 100-per-cent ownership of the Golden Valley property located 35 kilometres north of La Sarre, in the prolific Quebec Abitibi greenstone belt.

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