Black Mammoth Metals Arranges Private Placement

About this update from Black Mammoth Metals Corporation

[{"type":"text","content":"\n\n\n\nBlack Mammoth Metals Arranges Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 29, 2017\n\n\n\nBMM: TSX-V\n\n\n\nVANCOUVER, May 29, 2017 /CNW/ - Black Mammoth Metals Corporation (TSX-V: BMM / Frankfurt: LQK / OTCBB: LQRCF) (\"Black Mammoth\" or the \"Company\") is pleased to announce that it intends to raise gross proceeds of up to $900,000 by way of a private placement (the \"Offering\") of up to 4,500,000 common shares of the Company at a price of $0.20 per Unit (the \"Units\"). Each Unit consists of one common share of the Company and one non-transferrable common share purchase warrant (a \"Warrant\"), with each Warrant exercisable into one common share of the Company for a period of 2 years from the issue date at an exercise price of $0.30. The Units will be subject to a four-month hold period from the date of closing. A finder's fee may be payable in accordance with the policies of the TSX Venture Exchange (\"TSX-V\"). \n\n\n \n \n\n \nThe Company intends on using the proceeds of the Offering for its Blanco Creek gold property (\"the Property\"), general working capital and potential acquisitions. The Company currently has 5,948,786 common shares outstanding. The Offering is subject to the approval of the TSX-V.\n\nAbout Black Mammoth Metals Corporation:\n\nBlack Mammoth has recently assumed a long-term lease for a 100% interest, subject to underlying royalties, in the Blanco Creek gold property in central Idaho.  The Property has road access and consists of 40 Unpatented Federal Lode Claims hosting three historic underground mines along 3550 metres (11,644 feet) of strike on the north-east trending regional Blanco Sheer Zone.  Exploration by two previous operators identified a geological target for the Blanco Creek property in the order of 1.7 to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au), see the Company's press release dated February 14th, 2017. \n\nBlack Mammoth cautions investors to note the potential quantity and grade of ...

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