NetworkNewsBreaks – Black Iron Inc. (TSX: BKI) (
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Posted On: 03/22/2019 6:57:30 PM
NetworkNewsBreaks – Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) to Complete a Private Placement Financing
Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) on Thursday announced its intention to complete a non-brokered private placement financing of up to 25,000,000 company units, each at a price of $0.06 per unit, for maximum gross proceeds of $1,500,000. According to the update, the company plans to use the net proceeds to advance Black Iron’s Shymanivske project, including to further discussions and negotiations to secure essential land surface rights and construction financing, as well as for general working capital. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Holders will be entitled to acquire a common share at a price of $0.09 for a period of three years from the date of issuance. In the event that the company’s common shares trade at $0.15 or higher on the Toronto Stock Exchange for a period of 10 consecutive days, Black Iron shall have the right to accelerate the expiry date of the warrants to the date that is 30 days after the company issues a news release announcing its election to exercise the acceleration right.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) on Thursday announced its intention to complete a non-brokered private placement financing of up to 25,000,000 company units, each at a price of $0.06 per unit, for maximum gross proceeds of $1,500,000. According to the update, the company plans to use the net proceeds to advance Black Iron’s Shymanivske project, including to further discussions and negotiations to secure essential land surface rights and construction financing, as well as for general working capital. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Holders will be entitled to acquire a common share at a price of $0.09 for a period of three years from the date of issuance. In the event that the company’s common shares trade at $0.15 or higher on the Toronto Stock Exchange for a period of 10 consecutive days, Black Iron shall have the right to accelerate the expiry date of the warrants to the date that is 30 days after the company issues a news release announcing its election to exercise the acceleration right.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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