RE:new
ORIGINAL: Black Tusk Closes $1,015,000 Flow Through Private Placement
2020-07-15 14:20 ET - News Release
VANCOUVER, BC / ACCESSWIRE / July 15, 2020 / Black Tusk Resources Inc. (the "Company") (CSE:TUSK) (Frankfurt:0NB) (OTC Pink:BTKRF) is pleased to announce that it has closed a flow through private placement for gross proceeds of $1,015,000 issuing a total of 3,125,000 flow through common shares at a price of $0.08 per share and 9,562,500 Units (as defined below) at a price of $0.08 per Unit.
Each Unit consists of one flow-through common share and one half of one share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder to purchase a non-flow through share at a price of $0.10 per share for a two-year term (the "Warrant Term").
The Company paid finders fees to Roche Securities Ltd. Leede Jones Gable Inc. and EMD Financial Inc. consisting of $68,704 cash, 179,400 common shares and 679,400 Warrants.
The securities issued will be subject to a four month and one day hold from the date of issuance.
The proceeds from the offering will be for mineral exploration activities in Quebec.
On behalf of the Board of Directors
Richard Penn
CEO