Toronto, Ontario--(Newsfile Corp. - December 30, 2014) - Braveheart Resources Inc. (TSXV: BHT) (“Braveheart” or, the “Company”) has completed non-brokered private placement financing consisting of 1,905,800 units at $0.05 per unit and an additional 1,835,000 flow-through units at $0.05 per unit for gross proceeds of $187,040.
The units are comprised of one common share and one common share purchase warrant. The flow-through units are comprised of one common share and one-half of a common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Braveheart at a price of $0.10 for 18 months.
In connection with the financing, Rainbow paid finders fees totalling $1,740 and issued 34,800 finder warrants, each finder warrant exercisable into a common share of the Company for a period of 18 months at an exercise price of $0.10 per share.
The proceeds of the financing will be used to advance the Company’s exploration efforts in British Columbia and for general working capital.
The financing is subject to the final approval of the TSX Venture Exchange.
All securities issued pursuant to the financing will be subject to a four month hold period.
The Company has acquired additional gold mining claims in the Nelson Mining Division in British Columbia in exchange for the issuance of 125,000 common shares of the Company to the vendor of the claims. These claims are strategically located to make the Big Strike Project’s Whitewater and Referendum claims contiguous.
About Braveheart Resources Inc.
Braveheart Resources Inc. (formerly Rainbow Resources Inc.) is a Canadian based junior exploration company focused on building shareholder wealth through aggressive exploration in a favorable and proven mining jurisdiction - the West Kootenays in southeast British Columbia (silver and gold).
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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 of this news release.