• Mr. Richard Penn

BLACK TUSK COMPLETES $208,600 IPO

Updated: Jun 6, 2018

Mr. Richard Penn reports


BLACK TUSK RESOURCES INC. COMPLETES INITIAL PUBLIC OFFERING


Black Tusk Resources Inc. has successfully completed its initial public offering of 2,086,000 common shares of Black Tusk at a price of 10 cents per share for total gross proceeds of $208,600.


Pursuant to the agency agreement dated Sept. 8, 2017, Mackie Research Capital Corp. acted as agent for the IPO. Black Tusk paid to the agent a cash commission equal to 8 per cent of the proceeds and granted the agent and its sub agents non-transferable options entitling the agent and its sub-agents to purchase a total of 166,880 shares at a price of 10 cents per share until Nov. 9, 2019. In connection with the IPO, the agent also received a work fee, which consisted of cash.


Black Tusk's common shares were listed on the Canadian Securities Exchange, effective Nov. 8, 2017, and halted pending completion of the IPO. Black Tusk anticipates that its common shares will resume trading on the CSE on Nov. 10, 2017, under the symbol Tusk.


About Black Tusk Resources Inc.

Black Tusk is engaged in the acquisition and exploration of its mineral property located in British Columbia. 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 approximately 30 kilometres north-northwest of Powell River, B.C.


The proceeds will be used by Black Tusk to fund its exploration program on the Goldsmith property and for general working capital purposes.


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