C$1,286,090 Financing Closed
September 25, 2017
Bitterroot Resources Ltd. (BTT, TSX-V) has closed a non-brokered private placement of 5,331,000 units priced at C$0.20 for gross proceeds of C$1,066,200, plus 999,500 flow-through common shares priced at C$0.22 for gross proceeds of C$219,890.
Each unit consists of one common share and one half of a common share purchase warrant, exercisable at C$0.30 until September 19, 2019. The warrants are subject to accelerated exercise provisions if Bitterroot's shares trade on the TSX Venture Exchange at C$0.50 for greater than 20 consecutive trading days. Finder's fees paid in conjunction with the private placement consist of C$49,445.40 in cash, plus the issuance of 277,830 broker warrants exercisable at C$0.30 until September 19, 2019.
The common shares, plus any common shares acquired through the exercise of warrants or broker warrants are subject to a hold period expiring January 19, 2018.
The proceeds of the unit financing will be used to fund drilling on the Company's Hackberry Silver project and for working capital. The proceeds of the flow-through share financing will be used to fund drilling on the Company's North Brenda gold/silver project. Additional information on the Company's projects is available on www.bitterrootresources.com and on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.