Vancouver, British Columbia--(Newsfile Corp. - May 16, 2017) - Blind Creek Resources Ltd. (TSXV: BCK) is pleased to announce a non-brokered private placement of up to $2,000,000 through the issuance of up to 8,000,000 units ("Unit") at a price of $0.25 per each Unit. Each Unit will be 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 $0.40 per share for a period of one year from the date of closing of the financing.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder's fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.
The proceeds from this financing will be used primarily to provide for costs associated with advancing the Blende and Engineer Gold Mine Properties, and for general working capital.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Blind Creek
Blind Creek is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 14 years. The Company's primary focus is zinc-lead silver, and more recently gold and silver exploration and development in British Columbia, Yukon and the Northwest Territories. The Company's flagship property is the Blende Project in north-central Yukon, one of the largest undeveloped Zn-Pb-Ag deposits in Western Canada. More recently the company has acquired a 100% interest in the historic and fully-permitted Engineer Gold Mine, situated 32 km southwest of Atlin, B.C. While the Company will remain focused on developing its key Blende Project, the Company recently tripled the Engineer Gold Mine property size to 11,556 hectares and plans to commence a 2017 work program that is to include soil geochemical surveys, trenching, geological mapping, sampling, diamond drilling and preparation of a NI43-101 technical report.
On behalf of the Board of Directors,
Mr. Brian P. Fowler, P.Geo.
President
Tel: (604) 617-8191
bfowler@blindcreekresources.com
For further information, please contact:
Mr. Brook Bellian (778) 883-7869
Mr. Nelson Da Silva (604) 722-0041
Corporate Communications
info@blindcreekresources.com
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 includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the timing and completion of the work planned for the Engineer Mine property. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timing and completion of the work planned for the Engineer Mine property, the anticipated benefits of the acquisition of the Engineer Mine and Gold Hill properties to the Company, the timing and success of the Company's future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the work planned for the Engineer Mine property will proceed as planned, the anticipated benefits of the acquisition of the Engineer Mine and Gold Hill properties will be realized, the proposed exploration and development of the Company's mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
