Blackbird Energy Closes Two Private Placements

- March 16th, 2012

Blackbird Energy Inc.(TSXV:BBI) announced that it closed both its brokered and non-brokered private placement. The gross proceeds of these amounts to $2,079,960. The net proceeds from the private placements will be used on Blackbird’s Bigstone Montney prospect.

Blackbird Energy Inc.(TSXV:BBI) announced that it closed both its brokered and non-brokered private placement. The gross proceeds of these amounts to $2,079,960. The net proceeds from the private placements will be used on Blackbird’s Bigstone Montney prospect.

As quoted in the press release:

In the brokered private placement (the “Brokered Private Placement”), led by lead agent PI Financial Corp. (the “Agent”), the Company raised gross proceeds of $1,489,000 through the issuance of a total of 8,637,500 flow-through units (a “Flow-Through Unit”) at a price of $0.16 per Flow-Through Unit and 668,750 units (a “Unit”), at a price of $0.16 per Unit. Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”) exercisable at a price of $0.24 until March 15, 2014. Each Flow-Through Unit consists of one Common Share issued on a flow-through basis (a “Flow-Through Share”) and one half of one Warrant, with each whole Warrant exercisable at a price of $0.24 until March 15, 2014.

Click here to read the Blackbird Energy Inc. (TSXV:BBI) press releaseSee this press release on Marketwire
Click here to see the Blackbird Energy Inc. (TSXV:BBI) profile

Leave a Reply