• Mr. Richard Penn

BLACK TUSK CLOSES $502,900 FIRST TRANCHE OF FINANCING

Mr. Richard Penn reports

BLACK TUSK RESOURCES INC. CLOSES TRANCHE 1 OF PRIVATE PLACEMENT


Black Tusk Resources Inc. has closed tranche 1 of its previously announced private placement (see press release dated July 4, 2018), issuing a total of 2,514,500 units at a price of 20 cents per unit for total proceeds of $502,900. 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 30 cents per share for a two-year term.


In connection with the issuance, the company paid a finder's fee of $4,900 to PI Financial Corp. and issued 24,500 broker's warrants to PI Financial and 8,000 broker's warrants to Leede Jones Gable Inc. The brokers' warrants have the same terms as the warrants.


About Black Tusk Resources Inc.

Black Tusk is engaged in the acquisition and exploration of its mineral property located in British Columbia, Canada.


Pursuant to the Goldsmith option agreement, the company currently has an option to acquire a 100-per-cent undivided interest in the Goldsmith property situated in the Kootenays, approximately 65 kilometres north of the city of Kaslo, B.C.

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