GREY:BPCOD - Post by User
Post by
Claudius151on Jun 28, 2012 3:06pm
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Post# 20065431
$0.05c PP news release
$0.05c PP news release BLACK PANTHER ANNOUNCES NON-BROKERED PRIVATE PLACEMENTS
Black Panther Mining Corp., subject to regulatory approval, intends to proceed with a non-brokered private placement to raise up to $300,000 by the issuance of six million non-flow through units at five cents per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of 10 cents. Additionally, the company also intends to proceed with a flow-through non-brokered private placement to raise up to $350,000 by the issuance of seven million flow-through shares at five cents per FT share. With respect to these private placements, the company may pay finders' fees in the amount of 10 per cent (payable in cash or units), with 10 per cent finders' warrants based on the sale of the units and the FT shares purchased by subscribers introduced to the company by such finders.
The company intends to use the proceeds from these private placements for the next phase of exploration on the company's Olsen gold exploration property project in Ontario and for general working capital purposes.