Calgary, Alberta–(Newsfile Corp. – July 8, 2021) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) (“Braveheart” or the “Company) has closed a financing for gross proceeds of $723,313.
The financing is comprised of 7,233,130 units (“Units”), priced at $0.10 per Unit for proceeds of up to $723,313 (the “Offering”). Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a common share at a price of $0.14 per share for a period of 24 months from the Offering.
The Company paid commissions to eligible finders under the Offering totalling $9,000 and 90,000 finder’s warrants, with each finder’s warrant exercisable into a common share at an exercise price of $0.14 per share for 24 months. The financing and any finder’s fees are subject to TSX Venture Exchange approval.
All securities issued under the Offering will be subject to a statutory hold period that expires four months and one day from issuance.
The net proceeds from the financing will allow the Company to continue with exploration activities and infrastructure up-grades at its 100% owned Bull River Mine project near Cranbrook, British Columbia. A portion of the funds will be used to decommission and transport a 10 MVA transformer and related switchgear (previously purchased by the Company in 2019) from Manitoba to British Columbia with planned installation and commissioning at the Bull River Mine project during the month of July 2021.
About Braveheart Resources Inc.
Braveheart is a mining company primarily focused on two near-term copper production assets in Canada. Braveheart’s main asset is the 100% owned Bull River Mine project (>85MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart’s newest acquisition is the 100% owned Thierry Mine project (>860MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
For more investor information, please contact Braveheart at:
Director, Corporate Development