Black Widow Resources Announces C$240,000 Private Placement

Black Widow Resources Inc. (TSXV:BWR) announced that it intends to close a non-brokered private placement offering of 100 units at C$2,400.00 per unit for aggregate gross proceeds of up to C$240,000. Flow through proceeds from the offering will be used to further explore Black Widow’s Shunsby property through a follow-up on recent drilling and to explore other properties owned by Black Widow. Non-flow through securities will be used for general corporate purposes.

As quoted in the press release:

Each Unit consists of ten thousand (10,000) common shares (a “Common Share”) of the Company plus twenty-two thousand five hundred (22,500) Flow Through Common Shares, plus one purchase warrant (a “Warrant”) of the Company for each share purchased, or thirty-two thousand five hundred (32,500) warrants. Each Warrant will expire twenty four (24) months from the date of issue (the “Warrant Expiry Date”) and will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at a price of $0.10 per Warrant Share.

Click here to read the Black Widow Resources Inc. (TSXV:BWR) press release