P.O. Box 48778 Stn. Bentall Centre
BLIND CREEK RESOURCES LTD.
P.O. Box 48778 Stn. Bentall Centre Vancouver, B.C. V7X 1A6
Telephone: 604-669-6463 TSX Venture Exchange Facsimile: 604-669-3041 Trading Symbol: “BCK” Toll Free: 1-800-663-9688
Blind Creek Closes Private Placement of Common Shares
February 10, 2017
Vancouver, BC – Blind Creek Resources Ltd. (TSXV: BCK) (the “Company”) announces that has closed its previously announced non-brokered private placement of 5,000,000 common shares in the capital of the Company (the “Shares”) at a price of $0.10 per Share to raise gross proceeds of up to $500,000 (the “Offering”).
In connection with the Offering, the Company paid eligible finders a cash commission of $8,400 in accordance with the TSX Venture Exchange (the “TSXV”) policies. All securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws in Canada.
Certain insiders of the Company participated in the Offering, constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company's market capitalization.
The net proceeds of the Offering will be used to advance exploration of the Company’s properties and for general working capital purposes.
On Behalf of the Board of Directors of Blind Creek Resources Ltd.
“Thomas Kennedy”
Thomas Kennedy, Chief Executive Officer
For further information please contact:
Christopher P. Cherry, Chief Financial Officer Tel: (604) 908-3095 • Fax: (604) 669-3041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the completion of the proposed Offering; the price of securities issued pursuant to the Offering; use of proceeds from the Offering; and proposed exploration and development activities and their timing. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timeliness and success of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the Offering will receive regulatory approval and will proceed as planned, the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.