Calgary, Alberta--(Newsfile Corp. - January 27, 2020) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or the "Company") announces that it has raised proceeds of $171,711 through the exercise of 1,144,742 warrants at Cdn$0.15 per share. The Company previously issued 25,994,880 warrants on January 19, 2019 as part of a plan of arrangement in its purchase of Purcell Basin Minerals. The warrants had an expiry date of January 20, 2020 and each warrant entitled the holder to purchase a common share of the Company at a price of Cdn$0.15 per share.
Ian Berzins, President and CEO stated "with our share price trading slightly under Cdn$0.15 per share I was pleased to see this level of support from our shareholders that had the option to participate in the exercise of these warrants. We had planned to extend the expiry date of these warrants until July 2020 but because these warrants were issued as part of a reviewable transaction, and not a private placement, they were not eligible for an extension."
Proceeds will be used to continue with permitting activities at the Bull River Mine Project and for general corporate and administrative costs.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart's main asset is the Bull River Mine project which has a current mineral resource containing copper, gold and silver. The property is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
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