Black Dragon closes private placement for $990,000

Black Dragon Gold Corp. (TSXV:BDG) (‘Black Dragon’ or the ‘Company’) is pleased to announce that it has closed its non-brokered private placement, announced on October 17, 2017, with a strategic investor raising gross proceeds of $990,000 through the issuance of 11,000,000 units at a price of $0.09 per unit. Each unit is comprised of one common share of the Company and one share purchase warrant with each warrant entitling the holder to acquire an additional common share of the Company at a price of $0.20 per share until December 31, 2019. The units issued with respect to the financing is subject to a regulatory hold period expiring on February 26, 2018. In addition to the regulatory hold period, the investor has agreed to a voluntary 12 month hold period, which hold period will expire on October 24, 2018.
Proceeds from the private placement will be used for general working capital and exploration purposes.
Signed “Paul Cronin” Chief Executive Officer on behalf of the Board of Directors
BLACK DRAGON GOLD CORP.
Suite 545, 999 Canada Place Vancouver, B.C., V6C 3E1
Tel: (604) 684-6264 info@blackdragongold.com
www.blackdragongold.com
About Black Dragon Gold
Black Dragon Gold “BDG” is the 100% owner of the largest undeveloped gold project in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. The Salave project has measured and indicated resources totalling 6.52 million Tonnes grading 4.51 g/t Au containing 944,000 ounces of gold at a 2.0 g/t cutoff grade and gold price of USD$1,100/ounce. For more information on the Salave project, please refer to the technical report, “Amended Technical Report on the Salave Gold Project, Asturias Region, Spain” dated October 7, 2016, as amended January 31, 2017, filed on SEDAR. In addition to the current mineral resource, historical exploration work suggests there is the potential for additional mineralisation within Black Dragon’s landholdings. Douglas Turnbull, P.Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical information disclosed herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Source: www.stockwatch.com