Black Widow Resources (BWR-V)
www.blackwidowresources.com
22.5 million o/s
$0.3 million (as of Aug 31, 2013)
Key people
Neil Novak, P.Geo - CEO and Director
Mr. Novak is a highly experienced professional geologist and mining executive with over 30 years of experience in the junior resource sector. He is a director of Cadillac Ventures Inc. and is the past President/CEO of Spider Resources Inc. He was President/CEO of Spider from June 2005 until the takeover of Spider by Cliffs Natural Resources Inc. in August 2010, and remained as President thereof until December 31, 2010 at which time he resigned. Mr. Novak is also President of a personal service corporation, Nominex Ltd., a Canadian based private company involved in exploration management and consulting; and is also VP Exploration for a private company, Hard-Rock Mineral Development Inc., with projects in Mexico. Mr. Novak obtained a B.Sc. (Earth Sciences) from the University of Waterloo and he holds the designation P.Geo., as granted by the Association of Professional Geoscientists of Ontario. He was co-recipient of the Bill Dennis, Prospector of the Year Award in 2010 presented by the Prospectors and Developers Association of Canada, for his involvement in the discovery of the ‘Ring of Fire’ mineral exploration and development area of Northern Ontario.
Norman Brewster, P.Geo - Chairman of the Board and Director
Mr. Brewster is a professional geologist with more than 40 years of experience and currently serves as a director of Iberian Minerals Corp. (since 1998), Cadillac Ventures Inc. (since 2007), International Mining Corp. (since 2005) and Galantas Gold Corporation (since 2002). He is also Non-Executive Chairman of Iberian Minerals Corp. and President and Chief Executive Officer of Cadillac Ventures Inc. Mr. Brewster was a director of Spider Resources Inc. from September 1999 until the takeover of Spider by Cliffs Natural Resources Inc. in August 2010.
Mr. Brewster obtained a B.Sc. (Geology) and a B.Ed. from Acadia University and he holds the designation P. Geo. as granted by the Association of Professional Geoscientists of Ontario.
Company presentation & Fact sheet
exploration.blackwidowresources.com
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Black Widow arranges $1.46-million private placement
Dec 12, 2013 - News Release
Black Widow Resources Inc. intends to complete a non-brokered private placement offering of units at 10 cents per unit and flow-through units at 12 cents per FT unit for aggregate gross proceeds of up to $1.46-million.
Each unit will consist of one common share and one common share purchase warrant. Each FT unit will consist of one common share to be issued on a flow-through basis and one-half of one warrant. Each whole warrant will entitle the holder to acquire a further common share of the company at a price of 15 cents per share for the first year from the closing of the unit offering, 20 cents per share for the second year from the closing of the unit offering and 25 cents per share for the third year from the closing of the unit offering.
In connection with the offering, the company may pay finder's fees to arm's-length third parties consisting of: (i) cash commission of up to 8 per cent of the gross proceeds of the offering and (ii) broker warrants in an amount up to 8 per cent of the total number of units and FT units issued under the offering. Each broker warrant will expire 24 months from the date of issue and will entitle the holder thereof to purchase one unit of the company at a price of 10 cents per unit at any time up until the broker warrant expiry date.
The proceeds from the FT unit offering will be used to advance and execute a drilling program on the company's Shunsby property and to advance exploration on the company's other properties. The net proceeds from the unit offering will be used for general corporate purposes.
All securities to be issued under the offering will be subject to a four-month statutory hold period in Canada. |
