C$260,000 Unit Financing Closed, Drilling Starts
March 6, 2014
Bitterroot Resources Ltd. (BTT, TSX-V) has closed a non-brokered private placement of 5,200,000 units priced at C$0.05 in a non-brokered private placement for gross proceeds of C$260,000.
Each unit consists of one common share and one common share purchase warrant which is exercisable at C$0.10 until March 4, 2015.
The common shares, plus any common shares acquired through the exercise of warrants or broker warrants are subject to a hold period expiring July 4, 2014.
The proceeds are being used to fund 1,500 metres of drilling in approximately six holes on the Company's "Target H" nickel/copper/PGM target in Michigan and for working capital. Management expects the drilling program will take approximately three weeks to complete. Additional information on the Company's nickel/copper/PGM targets in Michigan is available at www.bitterrootresources.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.