Blast Resources Closes Fully-Subscribed LIFE Offering
CSE: BLST
Blast Resources Closes Fully-Subscribed LIFE Offering
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
February 28, 2025
Vancouver, British Columbia ‐ Blast Resources Inc. (“ Blast” or the “ Company”) (CSE: BLST) is
pleased to announce that it has closed it s previously announced non-brokered private
placement LIFE offering (the “Offering”) by issuing 4,500,000 units (each a "Unit") at a price of
$0.15 per Unit for aggregate gross proceeds of $675,000.
Each Unit consists of one common share and one -half of one transferrable common share
purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire
an additional common share at a price of $ 0.25 per common share until February 28, 2027 ,
subject to acceleration.
The Warrants are subject to an acceleration right held by the Company, such that if the closing
price of the Company’s shares is at or exceeds $0.35 for a period of 10 consecutive trading
days, the Company may, at any time after such an occurrence, give written notice (via news
release) to the holders of the Warrants that the Warrants will expire at 5:00 p.m. (Vancouver
time) on the 30th day following the giving of notice unless exercised by the holders prior to
such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise
their Warrants and any Warrants that remain unexercised will expire.
In connection with the Offering, the Company paid cash finder’s fees of $67,500 to an eligible
arm’s length finder.
The proceeds raised from the Offering are expected to be used for exploration expenditures on
the Company’s Wales Lake Project and working capital and general corporate purposes
including marketing and investor relations services.
The Units were issued pursuant to t he listed issuer financing exemption under Part 5A of
National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”). Pursuant to NI 45-106, the
securities forming part of the Units issued to Canadian resident subscribers under the Offering
are not subject to resale restrictions.
About Blast Resources Inc.
Blast is a mineral exploration company trading on the Canadian Securities Exchange. The
Company has an option over a mineral exploration project in Saskatchewan. The project is
located near Highway 955 south of Wales Lake and sits just outside the southwest margin of
the Athabasca Basin.
ON BEHALF OF THE BOARD
Gary Claytens
President and CEO
For further information, please contact:
E-mail: [email protected]
Website: www.blastresources.com
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any
of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”,
“potential” and similar expressions are intended to identify forward looking statements. In particular, this press release
contains forward looking statements concerning the use of proceeds of the Offering.
Although the Company believes that the expectations and assumptions on which the forward -looking statements are
based are reasonable, undue reliance should not be placed on the forward -looking statements because the Company
cannot give any assurance that they will prove correct. Since forward looking statements address future events and
conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materiall y from those
currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are
not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and
proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt
of regulatory and shareholder approvals
Management has provided the above summary of risks and assumptions related to forward looking statements in this
press release in order to provide readers with a more comprehensive perspective on the Company’s future operations.
The Company’s actual result s, performance or achievement could differ materially from those expressed in, or implied
by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by
the forward-looking statements will transpire o r occur, or if any of them do so, what benefits the Company will derive
from them. These forward-looking statements are made as of the date of this press release, and, other than as required
by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward -looking
statements, whether as a result of new information, future events or results or otherwise.
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or applicable exemption from the
registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor
will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.