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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2013) - Blackheath Resources Inc. (TSX VENTURE:BHR)(FRANKFURT:04B) ("Blackheath" or the "Company") is pleased to announce that it has increased the size of its previously-announced private placement from $1,050,000 to $1,708,000.
The non-brokered private placement will now comprise up to 4,880,000 units (the "Units") at a price of $0.35 per Unit for aggregate gross proceeds of up to $1,708,000 (the "Private Placement"). The Units will be issued to a strategic group of investors. Each Unit will comprise one common share of the Company and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.50 per share for a period of 36 months from closing of the Private Placement. |
