Braveheart Resources Inc. Announces Closing of $1,564,000 Financing
Calgary, Alberta--(Newsfile Corp. - December 28, 2018) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or, the "Company") has completed a non-brokered private placement financing of flow-through units and units for gross proceeds of $1,564,000. The Company issued 12,690,000 units at an issue price of $0.10 per unit, which are comprised of one common share and one common share purchase warrant, with each warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.15 per share for 24 months. The Company also issued 2,950,000 flow-through units at an issue price of $0.10 per unit and are comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling its holder to acquire one additional common share of Braveheart at a price of $0.15 per share for 24 months.
The Company paid finders fees totalling $18,000 and issued 180,000 finder warrants, with each finder warrant exercisable into a common share of the Company at an exercise price of $0.10 per share for a period of 24 months.
The proceeds of the financing will be used to fund the Company's recently announced proposed acquisition of Purcell Basin Minerals Inc., advance the Company's exploration efforts in British Columbia and for general working capital.
All securities issued pursuant to the financing will be subject to a four month hold period.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior exploration company focused on building shareholder value through exploration and development in the favorable and proven mining jurisdictions of the East and West Kootenays of British Columbia.
Contact Information
Braveheart Resources Inc.
Ian Berzins, P.Eng.
Chief Executive Officer
403-512-8202
braveheartresources@shaw.ca
Website: www.braveheartresourcesinc.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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 of this news release.