Mr. Dustin Henderson reports
BLACK MAMMOTH METALS ARRANGES $540,000 PRIVATE PLACEMENT
Black Mammoth Metals Corp. intends to raise gross proceeds of up to $540,000 by way of a private placement of up to 4.5 million common shares of the company at a price of 12 cents per unit, initiated by price reservation. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant exercisable into one common share of the company for a period of three years from the issue date at an exercise price of 20 cents. 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. The company intends on using the proceeds of the offering for its Happy Cat property in Nevada and its America mine property in California and for general working capital. The offering is subject to the approval of the TSX-V.
About Black Mammoth Metals Corp.
Aside from the recent acquisition of IDA Mining for the America mine property, the company has completed a ground gravity survey that is now modelled and interpreted in conjunction with the recent unmanned aerial vehicle magnetic survey at its 100-per-cent-owned, 1,213-hectare (2,997-acre) Happy Cat gold property, in southern Ravenswood mining district, Lander county, Nevada.
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