Blackbird Energy Inc. (TSXV:BBI) announced the closing of the second tranche of the private placement. The Company also expect the third and final tranche of the placement to close in mid-December.
As quoted in the press release:
Pursuant to an agency agreement entered into between the Company and the Agent, an aggregate of 144,900 Agent’s warrants were issued to the Agent and its selling group, representing 6% of the Units and Flow-Through Shares sold in the brokered Second Tranche. The Agents’ warrants are exercisable at a price of $0.30 until December 7, 2013. The Agent has also been paid a cash commission of $28,980, representing 6% of the gross proceeds of the Second Tranche.
Blackbird Energy Inc., CEO, Garth Braun, said:
“We are very pleased to close this second tranche of the Private Placement and now have all of the funds in place to meet our capital requirements for the second Montney well that is currently being drilled.”