Black Springs Capital Corp. Announces Closing of a Non-Brokered Private Placement
Suite 918, 1030 West Georgia Street Vancouver, BC V6E 2Y3 News Release TSXV: BSG.H
BLACK SPRINGS CAPITAL CORP. ANNOUNCES CLOSING OF A NON-BROKERED PRIVATE PLACEMENT
January 22, 2015 – Vancouver, British Columbia – Black Springs Capital Corp. (the "Corporation" or "Black Springs") hereby announces closing of a non-brokered private placement consisting of 3,150,000 common shares at a price of $0.07 per common shares for gross proceeds of $220,500.00
The gross proceeds from the private placement will be used by the Corporation for general working capital purposes and having sufficient funds to complete a Qualifying Transaction as per Policy 2.4 of the TSX-V Exchange (the “Exchange”).
All of the Shares issued pursuant to the Private Placement will be subject to a four-month hold period from the date of issue. The private placement has received the approval of the Exchange and the expiry date of the hold period is set at May 21st, 2015.
About the Corporation
The Corporation is designated as a Capital Pool Company by the Exchange. The Corporation has not commenced commercial operations and has no assets other than cash. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
For further information, please contact Donald Sharpe, President and Chief Executive Officer at:
Suite 918, 1030 West Georgia Street Vancouver, BC V6E 2Y3 Telephone: 604.628-5614 Facsimile: 604.662-7950
This news release contains statements about the Corporation's expectations regarding the completion of the Private Placement that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements. The forward looking statements contained in this news release are made as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
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 does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of Black Springs Capital Corp. The securities of Black Springs Capital Corp. have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.