April 05, 2023
Blackwolf Copper & Gold Ltd. (TSXV:BWCG, Not Rated, Taylor Combaluzier) has closed its previously announced private placement for aggregate gross proceeds of C$8.5M. The company sold 30.0M units at C$0.20/unit for gross proceeds of C$6M, with each unit consisting of one common share and a half warrant. Each warrant entites the holder to purchase one common share at C$0.35/sh for two years. Blackwolf also sold ~10.42M flow-through (FT) shares at C$0.24/FT share for gross proceeds of C$2.5M, with each FT share consisting of one common share. Under the offering, Mr. Frank Giustra acquired 10.0M FT shares in the company, bringing his total share count to ~10.7M (~13.4% of BWCG’s total outstanding shares). The company intends to use proceeds from the offering for the exploration and advancement of its 100%-owned Hyder Au-Ag properties in the US and Canada, the 100%-owned Niblack Cu-Au-Zn-Ag VMS project in Alaska, future property acquisitions, and general working capital purposes. Looking ahead, we believe additional drilling at the Niblack and Hyder projects (spring 2023) should help drive the company’s share price forward. Read more
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Blackwolf Copper and Gold Ltd. – TSXV:BWCG – 3
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