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Braveheart Resources Inc. Announces Closing of $1,564,000 Financing

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Braveheart Resources Inc. Announces Closing of $1,564,000 Financing

 

 

 

 

 

Braveheart Resources Inc. (TSX-V: BHT)  has completed a non-brokered private placement financing of flow-through units and units for gross proceeds of $1,564,000. The Company issued 12,690,000 units at an issue price of $0.10 per unit, which are comprised of one common share and one common share purchase warrant, with each warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.15 per share for 24 months. The Company also issued 2,950,000 flow-through units at an issue price of $0.10 per unit and are comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.15 per share for 24 months.

 

The Company paid finders fees totalling $18,000 and issued 180,000 finder warrants, with each finder warrant exercisable into a common share of the Company at an exercise price of $0.10 per share for a period of 24 months.

 

The proceeds of the financing will be used to fund the Company’s recently announced proposed acquisition of Purcell Basin Minerals Inc., advance the Company’s exploration efforts in British Columbia and for general working capital.

 

All securities issued pursuant to the financing will be subject to a four month hold period.

 

About Braveheart Resources Inc.

 

Braveheart is a Canadian based junior exploration company focused on building shareholder value through exploration and development in the favorable and proven mining jurisdictions of the East and West Kootenays of British Columbia.

Posted December 31, 2018

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