Black Tusk Resources Inc. Completes Initial Public Offering
Vancouver, November 9, 2017 - Black Tusk Resources Inc. ("Black Tusk") (CSE: TUSK) is pleased to announce that, on November 9, 2017, it successfully completed its initial public offering (the "IPO") of 2,086,000 common shares (the "Shares") of Black Tusk at a price of $0.10 per Share for total gross proceeds of $208,600 (the "Proceeds"). Pursuant to the agency agreement dated September 8, 2017, Mackie Research Capital Corporation acted as agent (the "Agent") for the IPO. Black Tusk paid to the Agent a cash commission equal to 8% of the Proceeds and granted the Agent and its sub agents non-transferable options entitling the Agent and its sub agents to purchase a total of 166,880 Shares at a price of $0.10 per Share until November 9, 2019. In connection with the IPO, the Agent also received a work fee, which consisted of cash.
Black Tusk's common shares were listed on the Canadian Securities Exchange ("CSE") effective November 8, 2017 and halted pending completion of the IPO. Black Tusk anticipates that its common shares will resume trading on the CSE on November 10, 2017 under the symbol "Tusk".
About Black Tusk
Black Tusk is engaged in the acquisition and exploration of its mineral property located in British Columbia, Canada. Pursuant to the Goldsmith Option Agreement, the Company currently has an option to acquire a one hundred percent (100%) undivided interest in the Goldsmith Property situated approximately 30 kilometres north-northwest of Powell River, British Columbia.
The Proceeds will be used by Black Tusk to fund its exploration program on the Goldsmith Property and for general working capital purposes.
Forward Looking Information
Information set forth in this press release contains forward-looking statements relating to the use of proceeds, are made as of November 9, 2017 and are based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Black Tusk cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Black Tusk's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of Black Tusk to obtain additional financing; Black Tusk's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to Black Tusk's properties, fluctuations in currency exchange rates; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in Black Tusk's Prospectus dated September 8, 2017 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Black Tusk undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors
Richard Penn
CEO
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