• Mr. Richard Penn

BLACK TUSK CLOSES $46,475 TRANCHE OF PLACEMENT

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. CLOSES FINAL TRANCHE OF FLOW THROUGH PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed its second and final tranche of its flow-through private placement issuing an additional 845,000 units (as defined below) at a price of 5.5 cents per unit for total proceeds of $46,475. Including the previous tranche (see press release dated Dec. 20, 2019), the total number of units sold under this offering was 4,145,000 for total proceeds of $227,975.


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 10 cents per share for a two-year term.


The company paid finders' fees to EMD Financial Inc. consisting of $2,997.50 cash, 32,700 common shares and 10,900 warrants.

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