Blue Note Closes First Tranche of Private Placement
23 Giugno 2011 - 10:11PM
PR Newswire (Canada)
MONTREAL, June 23, 2011 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWS
WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ MONTREAL, June 23,
2011 /CNW Telbec/ - Blue Note Mining Inc. (TSXV: BNT) ("Blue Note"
or the "Company") announces that it has closed the first tranche of
a previously-announced brokered private placement (the "Private
Placement") with Industrial Alliance Securities Inc. (the "Agent")
of 6,698,000 flow-through shares at a price of $0.10 each for gross
proceeds of $669,800 and 1,550,000 units, each at a price of $0.08
and comprised of one common share and one-half of one common share
purchase warrant for gross proceeds of $124,000. Each whole warrant
entitles the holder to acquire one common share at $0.11 for a
period of 18 months following the closing of the Private Placement.
In the event that the common shares of Blue Note trade at $0.20 or
higher for a period of 20 consecutive trading days, Blue Note will
have the option to accelerate the expiry date of the warrants to 30
days from notice to warrant holders of such accelerated expiry
date. The total gross proceeds of the Private Placement are
$793,800. The Company expects to close a second tranche under the
Private Placement on or about July 15, 2011. These securities were
issued pursuant to applicable prospectus exemptions and will be
subject to a statutory hold period of four months and one day from
closing expiring October 24, 2011. Insiders of the Company have
subscribed under the Private Placement for 100,000 flow-through
shares for a total consideration of $10,000. Closing of the Private
Placement remains subject to the approval of the TSX Venture
Exchange. The Company has paid the Agent $30,000 in commissions
from the gross proceeds of the Private Placement. In addition, the
Company has issued to the Agent 170,000 non-transferable common
shares purchase warrants. Each warrant entitles the Agent to
acquire one common share at a price of $0.11 for a period of 24
months from the closing date. The net proceeds from the units shall
be used for working capital and for general corporate purposes.
Proceeds from the flow-through shares will be used to advance Blue
Note's Croinor and Chimo projects, which will constitute Canadian
exploration expenses (as defined in the Income Tax Act (Canada))
and will be renounced for the 2011 tax year. About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal with properties located in known gold
regions of Canada, including the prolific Val-d'Or region of Quebec
and northern New Brunswick. Forward-Looking Statements This news
release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws
that involve risks and uncertainties. Such statements include those
with respect to the Company's use of funds under the Private
Placement. Although the Company believes the expectations reflected
in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will
be achieved. Such assumptions, which may prove incorrect, include
the following: (i) Blue Note's management will not identify and
pursue other business objectives using the proceeds of the Private
Placement and (ii) the price of gold will remain sufficiently high
and the costs of advancing the Company's gold projects sufficiently
low so as to permit Blue Note to implement its business plans in a
profitable manner. Factors that could cause actual results to
differ materially from expectations include (i) the Company's
failure to make effective use of the proceeds of the Private
Placement, (ii) the failure of the Company's drilling projects, for
technical, logistical, labour-relations or other reasons, (iii) the
Company's inability to obtain the necessary regulatory approvals
for the Private Placement, (iv) a decrease in the price of gold
below what is necessary to sustain the Company's operations, (v) an
increase in the Company's operating costs above what is necessary
to sustain its operations, (vi) accidents, labour disputes or the
materialization of similar risks, (vii) a deterioration in
capital market conditions that prevents the Company from raising
the funds it requires on a timely basis and (viii) generally, the
Company's inability to develop and implement a successful business
plan for any reason. These factors and others are more fully
discussed in the Company's filings with Canadian securities
regulatory authorities available at www.sedar.com. Actual results
may vary from the forward-looking information. "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." To
view this news release in HTML formatting, please use the following
URL: http://www.cnw.ca/en/releases/archive/June2011/23/c8911.html p
Jean Mayerbr/ Executive Vice Presidentbr/ (800) 937-3095 x236br/ a
href="mailto:jmayer@bluenotemining.ca"jmayer@bluenotemining.ca/abr/
a href="http://www.bluenotemining.ca"www.bluenotemining.ca/a /p
Copyright
Grafico Azioni Blue Note Mining Inc. (TSXV:BNT)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Blue Note Mining Inc. (TSXV:BNT)
Storico
Da Giu 2023 a Giu 2024
Notizie in Tempo Reale relative a Blue Note Mining Inc. (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Blue Note Mining Inc. Articoli Notizie