Each Unit consists of ten thousand (10,000) common shares (a "Common Share") of the Company plus twenty-two thousand five hundred (22,500) Flow Through Common Shares, plus one purchase warrant (a "Warrant") of the Company for each share purchased, or thirty-two thousand five hundred (32,500) warrants. Each Warrant will expire twenty four (24) months from the date of issue (the "Warrant Expiry Date") and will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of
While the Offering is being effected by the Company on a non-brokered basis, the Company may pay finder's fees to arm's-length third parties consisting of: (i) cash commission of up to 8% of the gross proceeds of the Offering; and (ii) broker warrants ("Broker Warrants") in an amount up to 8% of the total number of Units issued under the Offering. Each Broker Warrant will expire 24 months from the date of issue (the "Broker Warrant Expiry Date") and will entitle the holder thereof to purchase one common share of the Company at a price of
The flow through proceeds from the Offering will be used to continue exploring the Company's Shunsby property (follow-up on recent diamond drilling) and to advance exploration on the Company's other properties. The non-flow through proceeds from the Offering will be used for general corporate purposes. All securities to be issued under the Offering will be subject to a four-month statutory hold period in
For more information about Black Widow please visit our website: www.blackwidowresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Black Widow Resources Inc. Neil Novak, P.Geo. President, CEO & Director 416-203-8636 email@example.com Source: Black Widow Resources Inc.