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 15th 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.
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.
For further information: MarketSmart Communications Inc., (877) 261 4466, www.marketsmart.ca