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Black Iron Inc announces C$5 million bought deal private placement


Thursday, 30 Jan 2014 07:50am EST 

Black Iron Inc:Enters into an agreement with Dundee Securities Ltd. (the Underwriter).Says pursuant to the agreement the underwriter has agreed to purchase, on a bought deal private placement basis, 29,500,000 units of the company at a price of C$0.17 per Unit for total gross proceeds of C$5,015,000.Says each unit shall consist of one common share of the Company and one common share purchase warrant.Says each warrant shall entitle the holder thereof to acquire one common share of the company at a price of C$0.25 for a period of 36 months following the closing date of the Offering.Says the warrants will not be listed for trading.Says the offering is expected to close on or about Feb. 20.Says the net proceeds will be used for continued advancement of its Shymanivske Project and for working capital and general corporate purposes. 

Company Quote

0.05
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16 Dec 2014