Black Mountain Gold Closes Private Placement for Proceeds of CDN $5,000,000
Black Mountain Gold Closes Private
Placement for Proceeds of CDN $5,000,000
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2021) -
Black Mountain Gold USA Corp.
(BMG: TSXV) ("BMG" or the "Company")
announced on January 19, 2021 that it was engaging in a
non-brokered private placement (the "Private Placement") of 10,000,000 units at a price of CDN $0.40
per unit, for gross proceeds of CDN $4,000,000.
On January 22, 2021 the Company announced that, as
a result of strong investor interest, the Company was increasing the Private Placement to 12,500,000
units (the "Units") at a price of CDN$0.40 per Unit for proceeds of CDN$5,000,000.
The Company wishes to announce that it has closed the Private Placement of the 12,500,000 Units for
proceeds of CDN$5,000,000
Each of the 12,500,000 Units consisted of one common share and one-half share purchase warrant,
each whole share purchase warrant (each, a "Warrant") being exercisable for a period of two years until
February 12, 2023 at a price of CDN$0.60 per share. The Warrants are subject to an accelerated expiry
in the event the common shares of the Company trade on the Exchange at a price of CDN$1.00 or
higher for 10 consecutive trading days.
A finder's fee of 8% cash was payable on a portion of the Private Placement for a total of CDN$120,880
paid.
The common shares comprising part of the Units and any common shares issued upon exercise of the
Warrants are subject to a four month Exchange hold period expiring on June 13, 2021.
Proceeds of the Private Placement will be used to advance exploration of the Company's Mohave Gold
Project and for general working capital purposes.
Graham Harris, CEO commented, "We are pleased to close this oversubscribed financing and look
forward to ramping up our 2021 work program."
To find out more about Black Mountain Gold USA Corp. please contact Investor Relations at (604) 662-
8184 or email
.
BLACK MOUNTAIN GOLD USA CORP.
"Graham Harris"
CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan",
"forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or
information. These forward-looking statements or information may relate to future prices of commodities,
accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government
requirements or approvals including approvals of title and mining rights or licenses, the reliability of third
party information, continued access to mineral properties or infrastructure, changes in laws, rules and
regulations in Arizona which may impact upon the Company or its properties or the commercial
exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$,
fluctuations in the market for gold/silver, changes in exploration costs and government royalties, export
policies or taxes in Arizona and other factors or information. The Company's current plans, expectations
and intentions with respect to development of its business and of the Mohave Gold Project may be
impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current
financial and other market conditions on its ability to secure further financing or funding of the Mohave
Gold Project.
Such statements represent the Company's current views with respect to future events and
are necessarily based upon a number of assumptions and estimates that, while considered reasonable
by the Company, are inherently subject to significant business, economic, competitive, political and
social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as required by applicable laws, rules and
regulations.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES
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