Braveheart Resources Inc. Announces Closing of $200,000 Financing
Calgary, Alberta--(Newsfile Corp. - June 19, 2019) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or, the "Company") has completed a private placement financing of flow-through shares for gross proceeds of $150,000. The Company issued 882,353 flow-through shares at an issue price of $0.17 per share. In addition, the Company issued 333,333 units at an issue price of $0.15 per unit, for gross proceeds of $50,000. Each unit was comprised of one common share and one-half of one common share purchase warrant, with each full warrant exercisable into a common share at an exercise price of $0.21 per share for a period of 24 months.
The Company paid finders fees totalling $20,000 and issued 60,784 finder warrants, with each finder warrant exercisable into a common share of the Company at an exercise price of $0.17 per share for a period of 24 months.
The proceeds of the financing will be used to fund the Company's exploration efforts in British Columbia.
All securities issued pursuant to the financing will be subject to a four month hold period.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart's main asset is the newly acquired Bull River Mine, an advanced stage copper, gold and silver mine. The mine is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.
Braveheart Resources Inc.
Ian Berzins, P.Eng.
Chief Executive Officer
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, 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 of this news release.
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