NetworkNewsBreaks – Black Iron Inc. (TSX: BKI) (
Post# of 43
Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) this morning announced that it has upsized and closed the second and final tranche of a previously announced non-brokered private placement of units of the company. According to the update and per the second tranche, the company issued 9,043,950 units, each at a price of $0.06, for gross proceeds of $542,637. Combined with the March 29, 2019 closing of the first tranche, Black Iron has issued a total of 26,552,390 units for gross proceeds of $1,593,143. To accommodate investor interest, the company upsized the offering from $1,500,000. Company management asks that investors who were unable to receive an allocation or their target allocation of the offering purchase Black Iron shares in the market. Black Iron intends to use the offering’s net proceeds to advance its Shymanivske project, including negotiations to secure essential land surface rights, to further construction financing discussions and negotiations and for purposes of general working capital.
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