Mr. Richard Penn reports
BLACK TUSK CLOSES FLOW-THROUGH PRIVATE PLACEMENT
Black Tusk Resources Inc. has closed a private placement for gross proceeds of $260,000, issuing a total of 6.5 million units at a price of four cents per unit.
Each unit consists of one flow-through common share and one share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of five cents per share for a two-year term.
In addition, the company paid $20,000 in cash commissions and issued 500,000 warrants to brokers.
The securities issued will be subject to a four-month-and-one-day hold from the date of issuance.
The proceeds from the offering will be for qualifying mineral exploration expenditures.
We seek Safe Harbor.