Blind Creek Resources Ltd. Closes Final Tranche of Private Placement
Blind Creek Resources Ltd. Closes Final Tranche of Private
Placement
VANCOUVER
,
Oct. 20, 2017
/CNW/ -
(TSX-V: BCK) –
Blind Creek Resources Ltd.
("Blind Creek" or the "Company") is pleased to
announce that it has closed the final tranche of its private placement previously announced on
July 5, 2017
and extended on
August 15
th
and
September 20th
, 2017.
The Company has raised an additional
$176,000
through the issuance of 880,000 units ("Units") at a price of
$0.20
per Unit. Each Unit is
comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one
common share of the Company at a price of
$0.35
per share for a period of one year expiring
October 19
, 2018. All securities are subject to a
four month hold period expiring
February 20
, 2018. The Company paid
$3,000
in cash commissions.
Blind Creek raised a total of
$858,467
in this financing through the issuance of 4,292,335 units and paid a total of
$9,900
in cash commissions.
The proceeds from this financing will be used primarily to provide for costs associated with advancing the Blende (Zn-Pb-Ag), AB (Zn-Pb) and
Engineer Gold Mine (Au-Ag) Properties, and for general working capital.
About Blind Creek Resources Ltd.
Blind Creek is a
Vancouver
-based junior resource company focused on lead-zinc-silver and gold-silver project acquisition, exploration and
development in
Yukon
(Blende Property),
Northwest Territories
(AB Property) and
British Columbia
(Engineer Gold Mine). The Company's
flagship property is the Blende Property in north-central
Yukon
, one of the largest undeveloped zinc-lead-silver deposits in Western Canada.
More recently the company has signed an agreement to acquire a 100% interest in the AB Property (MV-Type Zinc-Lead) in the
Northwest
Territories
and purchased the historic and fully-permitted Engineer Gold Mine, situated 32 km southwest of
Atlin
, B.C.
For additional information please visit the company website
www.blindcreekresources.com
.
On behalf of the Board of Directors,
Mr.
Brian P. Fowler
, P.Geo.
President
Tel: (604) 617-8191
Neither 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 contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not
under the control of Blind Creek Resources Ltd. which may cause actual results, performance or achievements of Blind Creek Resources
Ltd to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature,
forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in
the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency
exchange rates, and, but not limited to, general economic factors. 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.
SOURCE
Blind Creek Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/October2017/20/c7345.html
%SEDAR: 00030605E
For further information:
MarketSmart Communications Inc., (877) 261 4466, www.marketsmart.ca
CO: Blind Creek Resources Ltd.
CNW 07:00e 20-OCT-17