Black Hawk Exploration, a diversified exploration company focused on finding Lithium, reported that it has obtained an equity financing agreement of up to $1,000,000.
Black Hawk’s new financing agreement gives the company the right to call funds on an as needed basis. Black Hawk has already received its first tranche from the agreement. The funds will be used to obtain new claim evaluations and pay for additional operating expenses.
Black Hawk’s draw of up to $1,000,000 can be made by the company’s issuance of units which consist of one share of its common stock at $0.85 US and one warrant to purchase common stock 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. Securities which are 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.
Mr. Kevin Murphy, Black Hawk Exploration’s CEO commented on the new financing agreement by stating, “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.”
Black Hawk Exploration is a diversified metals and energy exploration company that focuses on Lithium exploration through its wholly owned subsidiary Blue Lithium Energy. The company acquires and develops new properties to build shareholder value.
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