Blackstone Closes $715,000 Private Placement
21 December 2010 - 4:07AM
Marketwired
Blackstone Ventures Inc. (TSX VENTURE: BLV) ("Blackstone" or the
"Company") is pleased to announce that it has closed the private
placement with Cliffs Natural Resources Inc. previously announced
on December 14, 2010.
The Company issued 11,916,666 common shares at a price of $0.06
per share for total gross proceeds of $715,000. All of the common
shares issued are subject to a four month hold period which expires
on April 17, 2011.
The net proceeds of the private placement will be used to fund
Scandinavian property payments and for general working capital.
For further information on Blackstone please visit the
Blackstone website at www.blv.ca.
On behalf of Blackstone Ventures Inc.
Donald McInnes, Chairman
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Blackstone Ventures Inc. Investor Relations
604-687-3929 604-682-3727 (FAX) www.blv.ca
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