Black Dragon Gold Corp. (TSXV:BDG) (‘Black Dragon’ or the ‘Company’) is pleased to announce that it has arranged for a non-brokered private placement with a strategic investor raising gross proceeds of $990,000 through the issuance of 11 million units at a price of nine cents per unit. Each unit will be comprised of one common …
Black Dragon Gold Corp. (TSXV:BDG) (‘Black Dragon’ or the ‘Company’) is pleased to announce that it has arranged for a non-brokered private placement with a strategic investor raising gross proceeds of $990,000 through the issuance of 11 million units at a price of nine cents per unit. Each unit will be 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 will be subject to a four month hold period in accordance with applicable Canadian Securities Laws. In addition to the regulatory hold period, the investor has agreed to a voluntary 12 month hold period, which hold period will run concurrent with the regulatory 4 month hold period.
A finder’s fee may be payable in connection with this financing.
Proceeds from the private placement will be used for general working capital and exploration purposes.
About Black Dragon Gold Corp.
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.
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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