18:04:42 EDT Thu 25 Apr 2024
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Berkwood Resources Ltd (3)
Symbol BKR
Shares Issued 61,009,341
Close 2019-08-16 C$ 0.035
Market Cap C$ 2,135,327
Recent Sedar Documents

Berkwood arranges $100,000 private placement

2019-08-16 17:26 ET - News Release

Mr. Thomas Yingling reports

BERKWOOD TO PRESENT AT THE INTERNATIONAL GRAPHITE 2019 CONFERENCE IN BERLIN

Berkwood Resources Ltd. will attend the International Graphite 2019 Conference in Berlin on Sept. 10 to Sept. 11, 2019. This is a very significant, and highly attended, conference as it connects producers with purchasers and consumers from across the natural and synthetic graphite markets. Its attendees are some of the world's largest buyers, consumers and traders of graphite. In addition, Berkwood's management will hold a speech to the attendees from all over the world to showcase the company's recently announced National Instrument 43-101 resource estimate for the Lac Gueret graphite deposit in Northern Quebec, Canada.

Berkwood is pleased to announce, at the conference, that, to date, it has 549,200 tonnes of contained graphite, as to indicated 299,200 tonnes and as to inferred 250,000 tonnes, with an estimated market value of $1,500 (U.S.) per tonne as used in the National Instrument 43-101 mineral resource estimate. The company has only explored about 20 per cent of the Zone 1 anomaly and has recently added numerous additional historical high-grade graphite outcrops to add to its land package, which are currently being resampled.

Berkwood has a high-grade graphite NI 43-101 resource located in Quebec, Canada, and is now looking for a joint venture partner and/or offtake agreement(s). The company has made this significant graphite discovery right next door to Mason Graphite's mine, which is currently being built. Berkwood Resources was successful in hiring members of the technical team who were responsible for developing Mason's project, and so far, the team is repeating this success on Berkwood's lands. The company is led by a team with collectively over 200 years of experience and whose members have been involved with the discovery, development, construction and operation of several producing mines. Berkwood's management plans on partnering up with a key partner(s) to do it again.

The company is undertaking a non-brokered financing of up to $100,000 with shares to be issued at five cents. The financing is subject to TSX Venture Exchange approval. Proceeds of the placement will be used for general working capital. Finders' fees may be payable, subject to exchange approval.

About Berkwood Resources Ltd.

Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.

Edward Lyons, PGeo (British Columbia, Quebec, and Newfoundland and Labrador) is a qualified person under the definition of Canadian National Instrument 43-101 and has approved the technical information in this news release. Mr. Lyons has worked extensively on the Lac Gueret property, now owned by Mason, and neighbouring graphite properties since 2000.

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