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Engineer Gold Mines Ltd. Completes Private Placement Of Subscription Receipts
Engineer Gold Mines Ltd. Completes Private Placement Of Subscription Receipts Cana...
About this update from Blende Silver Corp.
[{"type":"text","content":"\n\n\n\nEngineer Gold Mines Ltd. Completes Private Placement Of Subscription Receipts\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 27, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, March 27, 2018 /CNW/ - (TSXVE: BCK) – Blind Creek Resources Ltd. (\"Blind Creek\" or the \"Company\") is pleased to announce that, further to its press release of January 19, 2018, Engineer Gold Mines Ltd. (\"Engineer\") has completed its previously announced non-brokered private placement financing of subscription receipt (the \"Engineer Private Placement\"). The Offering was oversubscribed as Engineer has issued and sold an aggregate of 7,600,000 subscription receipts (the \"Subscription Receipts\") at a subscription price of $0.10 per Subscription Receipt for gross proceeds of $760,000. Engineer, a wholly-owned subsidiary of Blind Creek, was incorporated in connection with the previously announced plan of arrangement of Blind Creek and Engineer (the \"Arrangement\") under the Business Corporations Act (British Columbia) pursuant to which Blind Creek will spin out its Engineer Gold Mines property to Engineer in consideration for common shares of Engineer. Blind Creek plans to distribute the Engineer common shares to its shareholders on a pro-rata basis upon completion of the Arrangement. There can be no assurances the Arrangement will be completed on the proposed terms or at all. Further information can be found in Blind Creek's January 19, 2018 press release and the Arrangement agreement, both of which are available under Blind Creek's profile on www.SEDAR.com.\n\nAll funds raised in connection with the Engineer Private Placement will be held in escrow pending satisfaction of certain escrow release conditions (the \"Escrow Release Conditions\"), as set out below. Upon satisfaction of the Escrow Release Conditions, the Subscription Receipts will automatically be exercised, without payment of any additional consideration and with no...