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Blackheath Resources (TSX:BHR) reported that it continues to make progress regarding its previously announced private placement for gross proceeds of up to $2 million. The company intends to use proceeds from the private placement for exploration at its tungsten projects in northern portugal and for general working capital purposes.
As quoted in the press release:
The first tranche of 1,250,000 Units has closed to raise proceeds of $500,000 and the Company is making progress towards the completion of the remainder of the private placement.
Click here to read the Blackheath Resources (TSX:BHR) press release
Click here to see the Blackheath Resources (TSX:BHR) profile.
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