• Mr. Richard Penn

BLACK TUSK CLOSES $93,750 THIRD TRANCHE OF PLACEMENT

Updated: Jun 6, 2018

Mr. Richard Penn reports


BLACK TUSK RESOURCES INC. CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT AND GRANTS OPTIONS

Black Tusk Resources Inc. has closed tranche 3 of its previously announced private placement (see press releases dated Jan. 2, 2018, Feb. 6, 2018, and April 19, 2018), issuing a total of 625,000 units at a price of 15 cents per unit for total proceeds of $93,750. The grand total for all tranches of the private placement was 3,350,665 units for total proceeds of $502,600.


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 20 cents per share for a two-year term.


Richard Penn, the company's chief executive officer, participated for 50,000 units, and Roman Rubin, the company's chief financial officer, also participated for 50,000 units.


The company is also pleased to announce that following the private placement closing, the company granted 300,000 stock options exercisable at a price of 20 cents per share for a period of two years to eligible consultants.


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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