Blackheath Resources Inc. (TSXV:BHR,FWB:04B) has closed its previously announced non-brokered private placement. Additionally, Blackheath welcomed Shining Capital II LP and ShanDong DongLin Investment Co. Ltd. as significant shareholders.
As quoted in the press release:
The Company raised gross proceeds of $1,300,000 through the issuance of 5,200,000 units at a price of $0.25 per unit (the “Unit”). Each Unit is comprised of one common share of the Company and one-half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.35 per share for a period of 24 months from the closing of the private placement. The placement of Units was over-subscribed by $300,000.
Blackheath President, Alexander Langer, said:
We are delighted to have closed two oversubscribed financings in less than six months. We feel we are well capitalized and expect to be able to achieve our corporate goals for 2014. Bringing in two large funding partners in Shining Capital and ShanDong DongLin validates our vision that Blackheath Resources is poised to take significant steps forward in the coming years. We welcome the addition of these great organizations and look forward to continuing our partnerships in the years to come.