BKIRF - Private Placement Financing Expected to Advance Black Iron Inc.'s (TSX: BKI) (OTC: BKIRF) (GR: BIN) Shymanivske Iron Ore Project
- The second and final tranche of a Black Iron private placement will contribute to gross proceeds exceeding $1.59 million; these funds are expected to be used for Shymanivske iron ore project advancement
- Black Iron needs the financial resources to secure essential land surface rights and to further discussions surrounding project construction financing
- The company also announced discussions with the Ukrainian Ministry of Defense regarding the transfer of a parcel of land to be used for the construction of its processing plant and waste rock storage facility
Toronto-based Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) recently closed the second and final tranche of an earlier announced private placement of units. The funds generated through the non-brokered private placement are earmarked for securing essential land surface rights and furthering the advancement of Shymanivske iron ore project construction and financing.
Pursuant to the closing of the second tranche, the company issued 9,043,950 units at a price of $0.06 per unit for gross proceeds of $542,637. Combined with the closing of...
The technical and scientific contents of this article have been reviewed and approved by Matt Simpson, P.Eng., CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.
NOTE TO INVESTORS: The latest news and updates relating to BKIRF are available in the company’s newsroom at http://nnw.fm/BKIRF
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