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Blackheath Resources Inc Increases Size Of Private Placement Financing


Tuesday, 19 Feb 2013 09:00am EST 

Blackheath Resources Inc announced that it has increased the size of its previously-announced private placement from $1,050,000 to $1,708,000. The non-brokered private placement will comprise up to 4,880,000 units at a price of $0.35 per Unit for aggregate gross proceeds of up to $1,708,000. The Units will be issued to a strategic group of investors. Each Unit will comprise one common share of the Company and one non-transferable common share purchase warrant. Each Warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.50 per share for a period of 36 months from closing of the Private Placement. Blackheath intends to expend the proceeds raised from the Private Placement on exploration of the Covas, Borralha and Bejanca tungsten projects in northern Portugal and for general working capital purposes. Closing of the Private Placement remains subject to certain conditions, including, but not limited to, receipt of all required regulatory approvals. 

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26 Nov 2014