Black Tusk Announces Proposed Financings and Debt Settlement
Black Tusk Resources Inc. announced two private placements and a debt settlement on November 15, 2022. The flow-through funding will issue up to 8,333,333 FT Units at $0.06 for up to $500,000. Each FT Unit includes a common share and a half warrant at $0.10. The non-flow-through funding will offer up to 10,000,000 NFT Units at $0.05, also for $500,000, with similar warrant terms. The debt settlement involves $179,000 settled for 3,580,000 shares. Both placements are pending CSE approval.
- Proposed private placements could raise up to $1 million for the company.
- Debt settlement will reduce outstanding liability by $179,000.
- Common shares issued may dilute existing shareholder value.
VANCOUVER, BC / ACCESSWIRE / November 15, 2022 / Black Tusk Resources Inc. (CSE:TUSK)(OTC PINK:BTKRF)(Frankfurt:0NB) (the "Company" or "Black Tusk") is pleased to announce two proposed private placements and a proposed debt settlement.
The flow through funding will consist of up to 8,333,333 flow-through units ("FT Units"), priced at
The non-flow-through funding will consist of up to 10,000,000 units ("NFT Units") priced at
The Company will pay finder's fees of
In addition, the Company announces a debt settlement, settling
The proposed private placement and any finder's fees are subject to CSE approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Black Tusk Resources Inc.
Black Tusk Resources is a diversified Canadian exploration company with operations primarily based in the world-class Abitibi greenstone belt region of Quebec. Black Tusk currently holds 100-per-cent ownership in six separate gold, copper and platinum/palladium properties in Canada.
For more information please contact:
Black Tusk Resources Inc.
Mr. Richard Penn
President and Chief Executive Officer
778-384-8923
richard@blacktuskresources.com
www.blacktuskresources.com
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Black Tusk's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Black Tusk. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
The forward-looking information contained in this release is made as of the date hereof and Black Tusk is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
SOURCE: Black Tusk Resources Inc
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FAQ
What are Black Tusk Resources' new funding proposals?
How much is Black Tusk's debt settlement worth?
What is the share price for Black Tusk's flow-through units?
What is the maximum amount Black Tusk can raise from its non-flow-through units?
What are the terms of the warrants associated with Black Tusk's placements?
