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  • Writer's pictureMr. Richard Penn

BLACK TUSK ARRANGES $975,000 PRIVATE PLACEMENT

An anonymous director reports

BLACK TUSK RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

Black Tusk Resources Inc. has arranged a proposed private placement offering of a minimum of 3,333,333 units and a maximum of 6.5 million units at a price of 15 cents per unit for total proceeds of a minimum of $500,000 and a maximum of $975,000. Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional share at a price of 25 cents per share for a two-year term.


The company will have the right to accelerate the expiry date of the warrant term provided that the company's closing price on the CSE is at or above 37.5 cents for a period of 10 consecutive trading days. In the event of acceleration, the expiry date of the warrant term will be accelerated to a date that is 30 days after the company issues a news release announcing that it has elected to exercise this acceleration right.


The proceeds of the offering will be used for mineral exploration and general working capital purposes.


About Black Tusk Resources Inc.


Black Tusk is engaged in the acquisition and exploration of its mineral properties located in British Columbia and Quebec, Canada.

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