Braveheart Resources Closes $826,250 Financing
Calgary, Alberta--(Newsfile Corp. - February 16, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") has closed a financing for proceeds of $826,250, comprising of 11,016,667 units with an issue price of $0.075 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a common share at an exercise price of $0.1175 per share for a period of two years.
The Company paid commissions to eligible finders under the offering totalling $4,500 and 60,000 finder's warrants, with each finder's warrant exercisable into a common share at an exercise price of $0.075 per share for two years.
All securities issued under the offering are subject to a statutory hold period that expires four months and one day from issuance.
Proceeds from the financing will be used primarily for permitting and development activities at the Bull River mine project near Cranbrook, B.C.
The Company further announces that pursuant to its stock option plan, the Company has granted 4,000,000 options at an exercise price of $0.075 with an expiry date of five years from the date of issue to certain directors, officers, employees and consultants of the Company.
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 (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E: mgrigo@braveheartresources.com
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