Calgary, Alberta–(Newsfile Corp. – October 19, 2020) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (“Braveheart” or the “Company“) is pleased to announce a further increase in the financing initially announced on September 22, 2020, and subsequently increased on October 13, 2020, from $1,050,000 to $1,500,000 due to additional investor demand. The initial financing of $525,000 was arranged through Palisades Goldcorp Ltd.
The financing will consist of up to 20,000,000 units (“Units”), priced at $0.075 per Unit for proceeds of up to $1,500,000 (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 $0.11 per share for a period of three years from the Offering.
The Company may pay finder’s fees from the proceeds of the Offering. The proposed financing and any finder’s fees are subject to TSX Venture Exchange approval. All securities will be subject to a statutory hold period that expires four months and one day from issuance.
The proceeds from the financing will allow the Company to continue with engineering and permitting activities at its 100% owned Bull River Mine project near Cranbrook, British Columbia and accelerate development activities.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in favourable and proven Canadian mining jurisdictions. Braveheart’s main asset is the Bull River Mine project near Cranbrook, British Columbia which has a current mineral resource containing copper, gold and silver.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
admin@braveheartresources.com
Website: www.braveheartresources.com
