Blind Creek – Private Placement Closed
BLIND CREEK RESOURCES LTD. (BCK: TSX-V) Suite 804 - 750 West Pender Street Vancouver, B.C. V6C 2T7 Telephone: 604-682-2928 www.blindcreekresources.com
BLIND CREEK – PRIVATE PLACEMENT CLOSED
August 31, 2020 - Vancouver, BC – Blind Creek Resources Ltd. (the “Company”) (TSXV: BCK) announces it has closed a non-brokered private placement raising gross proceeds of $740,000. 14,800,000 units (“Unit”) have been issued at a price of $0.05 per each Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (“Warrant”). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.10 per share for a period of one year from closing of the financing.
All securities are subject to a four month hold period. Finder’s fees payable in connection with the private placement total $14,700 and 294,000 finder’s warrants. Finder’s warrants are exercisable at a price of $0.10 into one common share for a period of one year from closing of the financing, all in accordance with the policies of the TSX Venture Exchange. The proceeds from the private placement will be used for general working capital and project advancement.
A director, officer and existing control person of the Company purchased a total of 3,600,000 Units of the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).
About Blind Creek Resources Ltd
Blind Creek is a Vancouver-based junior resource company focused on silver-zinc-lead project acquisition, exploration and development. The Company's flagship property is the Blende Deposit in north-central Yukon. The property is 100% owned, winter-road accessible 5,345 ha and situated 63 km northeast of Keno Hill, Yukon. The property is the largest carbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largest undeveloped Ag-Zn-Pb deposits in Western Canada. The property has had more than $9.2 M in past exploration ($5.2M by Blind Creek); including 25,195 meters of drilling in 132 drill holes.
On Behalf of the Board of Directors CONTACT INFORMATION Blind Creek Resources Ltd Corporate Inquiries:
"Glen Macdonald" Dale Dobson: : (604) 682-2928 Mr. Glen C. Macdonald, P. Geo Email: [email protected] 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.
BLINDCREEKRESOURCES.com BCK : TSX.V