BTU Financing and Update on Dixie Halo Project, Contiguous to Great Bear’s Dixie Project, Red Lake District, Canada
BTU METALS CORP. (“BTU”or the “Company”) (TSXV:BTU) is pleased to announces it is arranging a non-brokered private placement of up to 10 million units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $1,000,000.00 (the “Offering”).
BTU METALS CORP. (“BTU”or the “Company”) (TSXV:BTU) is pleased to announces it is arranging a non-brokered private placement of up to 10 million units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $1,000,000.00 (the “Offering”). Each Unit will be comprised of one common share (“Share”) and one –half transferable Share purchase warrant of the Company (“Warrant”). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24 month period after the Closing Date at an exercise price of $0.15 per share. Proceeds raised from the Offering will be used for an upcoming work program at the Dixie Halo Project located in Red Lake, Ontario. Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
This offering is subject to TSX Venture Exchange acceptance and expected to close March 27th, 2019.
“With permits expected in the coming weeks this financing will enable us to complete a final Mag and IP program to get drill targets prioritized and commence a phase one drill program at our Dixie Halo Project located alongside Great Bear Resources (GBR-TSX:V) ongoing success at their Dixie Project.”stated Mike England, President of BTU Metals. Corp. “We are grateful to our geological team who have worked very hard to understand the geology of the area and we are now anxious to test their theories.”
To view a complete map of the Dixie Halo Project please visit http://btumetals.com/projects/Dixie_Halo.pdf. The drill hole intersection reported on the property location map is not on the Company’s Dixie Halo Property. Mineralization that may be hosted on adjacent properties are not representative of mineralization that is, or may be, hosted on the Company’s Dixie Halo Property.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll Free: 1-888-945-4770
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: BTU Metals Corp.