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| Home : Black Widow Resources Inc. Announces Financing of Up to $300,000 |
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Jul 19
2016 |
Black Widow Resources Inc. Announces Financing of Up to $300,000 |
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TORONTO, ONTARIO--(Marketwired - July 18, 2016) - Black Widow Resources Inc. (TSX VENTURE:BWR) ("Black Widow" or the "Company") announces an extension to the previously announced financing and that it has increased the amount of the non-brokered financing for up to Cdn$300,000 from the previously announced $250,000. As disclosed in a press release issued on June 29th, 2016 a first closing of this financing raised Cdn$100,000. The aggregate offering is for the issuance of up to 6 million ("Units") at a price of Cdn $0.05 per Unit for aggregate gross proceeds of up to Cdn$300,000 (the "Offering"). Each Unit consists of 1 common share (a "Common Share") of the Company plus one purchase warrant (a "Warrant") of the Company for each share purchased. Each Warrant will expire twenty-four (24) months from the date of issue (the "Warrant Expiry Date") and will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of $0.075 per Warrant Share during the first twelve (12) months then at $0.10 per Warrant Share for the remaining twelve (12) months. The Company anticipates closing additional tranches over the next few weeks up to the maximum amount of the Offering. |
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| Source:http://www.marketwired.com/mw/release.do?id=2143266&sourceType=3 |
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