BLACK TUSK CLOSES $260,411 2ND TRANCHE OF FINANCING
Mr. Richard Penn reports
BLACK TUSK CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Black Tusk Resources Inc. has closed a second tranche of its previously announced private placements. See press releases dated Nov. 15, 2022, and Dec. 5, 2022.
The company issued 4,273,532 flow-through (FT) units in the closing of this second tranche for gross proceeds of $260,411.92. Each FT unit consists of one flow-through common share plus one-half of one whole warrant to purchase one non-flow-through common share at 10 cents for two years.
The company also issued 1.55 million non-flow-through (NFT) units for gross proceeds of $77,500. Each NFT unit consists of one common share plus one-half of one whole warrant to purchase an additional common share at 7.5 cents for two years.
In connection with these offerings, the company has paid finders' fees of up to 10 per cent cash, 5 per cent compensation shares and 4 per cent warrants on the same terms as the private placements.
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 flow-through qualifying mineral exploration expenditures and general working capital.
We seek Safe Harbor.