Black Hawk Exploration Receives $1 Million Financing Commitment
FOX ISLAND, Wash., Oct. 19 /PRNewswire-FirstCall/ — Black Hawk Exploration (OTC Bulletin Board: BHWX) a diversified energy and metals exploration company with its current focus on premium US based Lithium exploration, is pleased to announce that it has entered into an equity financing agreement for up to $1,000,000.
“As the international demand for battery-powered devices steadily increases, the Global demand for our potential Lithium production has focused the investment communities spotlight on Black Hawk Exploration, its Clayton Valley holdings and future growth. This agreement is evidence of that. We are thrilled to have closed this equity financing agreement as it will allow us to fund the implementation of our operations and acquisitions strategy. In light of this new funding commitment all current acquisitions under consideration will be reviewed and prioritized to maximize future growth.” stated Mr. Kevin Murphy, Black Hawk Exploration’s CEO.
Under the terms of the agreement, Black Hawk has the right to call upon funds as needed. Black Hawk has received its first tranche which will be used for additional claim evaluations and operating expenses. Black Hawk may draw up to $1,000,000 in total by issuing units consisting of one share of its common stock at $0.85 US and one common stock purchase warrant exercisable for the purchase of one additional share of common stock at $1.05 for the first 12 months and $1.25 if exercised by the end of the second year. The securities to be issued under the agreement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent a registration or an applicable exemption from the registration requirements.
About Black Hawk Exploration Inc.:
Black Hawk is a diversified metals and energy exploration company with its current focus on Lithium exploration through its wholly owned subsidiary Blue Lithium Energy. Black Hawk Exploration is committed to an aggressive program of value added property acquisition, project generation, asset diversity and building Shareholder value.
“Safe Harbor” Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Black Hawk (the “Company”), as well as those contained herein, that are not historical facts are “forward-looking statements” within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE Black Hawk Exploration Inc.