• Mr. Richard Penn

BLACK TUSK CLOSES $502,050 FIRST TRANCHE OF PLACEMENT

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. CLOSES TRANCHE 1 OF PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed the first tranche of its previously announced private placement (see press release dated Feb. 21, 2019), issuing a total of 3,346,999 units (as defined herein) at a price of 15 cents per unit for total proceeds of $502,050. The company also issued 5,333 brokers warrants in connection with the closing of the tranche.


Each unit consists of one 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 company will have the right to accelerate the expiry date of the warrant term provided that the company's closing price on the Canadian Securities Exchange is at or above 37.5 cents for a period of 10 consecutive trading days. In the event of acceleration, the expiry date of the warrant term will be accelerated to a date that is 30 days after the company issues a news release announcing that it has elected to exercise this acceleration right.

47 views0 comments

Recent Posts

See All

Mr. Richard Penn reports BLACK TUSK RESOURCES INC. GEOLOGY TEAM RECONNAISSANCE IN VAL D'OR, QUEBEC Black Tusk Resources Inc.'s geological and executive team will be conducting ground reconnaissance in

Mr. Richard Penn reports BLACK TUSK CLOSES PRIVATE PLACEMENT Black Tusk Resources Inc. has closed a private placement for gross proceeds of $274,000, issuing a total of 10.96 million units at a price

Mr. Richard Penn reports BLACK TUSK RESOURCES INC. TO COMPLETE DEEP-PENETRATING PULSE E-M SURVEY AT MOGOLD PROJECT, VAL-D'OR, QUEBEC Black Tusk Resources Inc. has contracted Geophysique TMC to complet