BLACK TUSK RESOURCES INC. CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
Mr. Richard Penn reports
Black Tusk Resources Inc. (the “Company”) (CSE: TUSK) is pleased to announce that it has closed its second and final tranche of its previously announced private placement (see press releases dated February 21, 2019 and May 3, 2019) issuing a total of 2,983,733 Units (as defined below) at a price of $0.15 per Unit for total proceeds of $447,600. The total amount raised between the two tranches was $949,650.
Each Unit consists of one common share (a “Share”) and one half of one share purchase warrant (each whole warrant a “Warrant”). Each Warrant will entitle the holder to purchase an additional share at a price of $0.25 per share for a two-year term (the “Warrant 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 CSE is at or above $0.375 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.
About Black Tusk Resources Inc.
Black Tusk is engaged in exploration of its mineral properties located in Quebec and British Columbia, Canada. The company has purchased 100% ownership of the Golden Valley property located 35 kilometres north of La Sarre, in the prolific Abitibi region of Quebec.
In addition to trading on the CSE, Black Tusk Resources trades in the US under the stock symbol BTKRF as well as the Frankfurt Stock Exchange under the symbol 0NB.
On behalf of the Board of Directors
Richard Penn, CEO
778 384 8923