Source: Braveheart Resources
  • Braveheart Resources (BHT) has closed a financing for proceeds of $760,000
  • The offering included 9,500,000 FT units priced at $0.08 per unit
  • Proceeds from the financing will be used for exploration activities at the Thierry Mine Project in Ontario
  • A maiden drilling program is expected to commence in the first half of 2023
  • Braveheart is a mining company that is largely focused on two near-term copper production assets in Canada
  • Braveheart Resources Inc. (BHT) opened trading at C$0.07

Braveheart Resources (BHT) has closed a financing for proceeds of $760,000.

The offering included 9,500,000 FT units priced at $0.08 per unit. Each unit consists of one common share, and one common share purchase warrant exercisable into a common share at an exercise price of $0.12 per share for a period of three years.

All securities issued under the offering are subject to a statutory four-month hold period.

The company paid cash commissions of $53,200 and issued 665,000 broker warrants. 

Proceeds from the financing will be used for exploration activities at the Thierry Mine Project in Ontario. Drilling is expected to commence in the first half of 2023, pending the availability of drills, drill crews and accommodations in the Pickle Lake area. 

Ian Berzins, President and CEO of Braveheart, commented on the capital raise and maiden drill program.

“We are pleased to complete this financing in a challenging financial environment and excited to have funds in place to begin our maiden drill program at Thierry in H1 2023. The Canadian government recently issued a new Critical Minerals Strategy that included copper and nickel as some of the 31 minerals critical to Canada. The US Geological Survey lists 50 minerals as critical to the United States, including palladium and platinum, in addition to copper and nickel. We have copper, nickel, palladium and platinum at our Thierry project, as well as precious metals, including gold and silver.”

Braveheart is a mining company that is largely focused on two near-term copper production assets in Canada.

Braveheart Resources Inc. (BHT) opened trading at C$0.07.


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