BMM: TSX-V
VANCOUVER, May 29, 2017 /CNW/ - Black Mammoth Metals
Corporation (TSX-V: BMM / Frankfurt: LQK / OTCBB: LQRCF) ("Black
Mammoth" or the "Company") is pleased to announce that it
intends to raise gross proceeds of up to $900,000 by way of a private placement (the
"Offering") of up to 4,500,000 common shares of the Company at a
price of $0.20 per Unit (the
"Units"). Each Unit consists of one common share of the Company and
one non-transferrable common share purchase warrant (a "Warrant"),
with each Warrant exercisable into one common share of the Company
for a period of 2 years from the issue date at an exercise price of
$0.30. 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 ("TSX-V").
The Company intends on using the proceeds of the Offering for
its Blanco Creek gold property ("the Property"), general working
capital and potential acquisitions. The Company currently has
5,948,786 common shares outstanding. The Offering is subject to the
approval of the TSX-V.
About Black Mammoth Metals Corporation:
Black Mammoth has recently assumed a long-term lease for a 100%
interest, subject to underlying royalties, in the Blanco Creek gold
property in central Idaho. The Property has road access and
consists of 40 Unpatented Federal Lode Claims hosting three
historic underground mines along 3550 metres (11,644 feet) of
strike on the north-east trending regional Blanco Sheer Zone. Exploration by two
previous operators identified a geological target for the Blanco
Creek property in the order of 1.7 to 2.48 million tons, grading
0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85
to 11.31 g/tonne Au), see the Company's press release dated
February 14th, 2017.
Black Mammoth cautions investors to note the potential
quantity and grade of the geological target are conceptual in
nature. A qualified person has not done sufficient work to
classify the geological target as mineral resources as defined
by NI 43-101, and it is uncertain if future exploration will result
in the target being delineated as mineral resources. The
Blanco Creek property lease transaction is subject to TSX-V
approval.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein in
the United States. The securitites
described herein have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United
States or to the account or benefit of a U.S. person absent
an exemption from the registration requirements of such
Act.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President, CEO and Corporate Secretary
Black Mammoth Metals Corporation
"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." This press release contains
forward-looking statements and forward-looking information
(collectively, "forward looking statements") within the meaning of
applicable Canadian and United
States securities laws. All statements, other than
statements of historical fact, included herein, including
statements regarding the anticipated content, commencement,
duration and cost of exploration programs, anticipated exploration
program results, the discovery and delineation of mineral
deposits/resources/reserves, the timing of the receipt of assay
results, the visual continuity of certain mineralized intervals and
business and financing plans and trends, the potentially open
nature of the mineralized zones on the property and the potential
for future discoveries of additional mineralization on the property
are forward-looking statements. Forward-looking statements are
typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions or are those
which, by their nature, refer to future events. Although the
Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. The Company cautions investors that
any forward-looking statements by the Company are not guarantees of
future performance, and that actual results may differ materially
from those in forward-looking statements. Important factors that
could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment
and staff availability; performance of third parties; timing of
receipt of assay results from third party analytical facilities;
risks related to the exploration stage of the Company's projects;
market fluctuations in prices for securities of exploration stage
companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the
Company's ability to identify one or more economic deposits on the
properties, and variations in the nature, quality and quantity of
any mineral deposits that may be located on the properties; risks
related to the Company's ability to obtain any necessary permits,
consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce
minerals from the properties successfully or profitably. Trading in
the securities of the Company should be considered highly
speculative. All of the Company's public disclosure filings may be
accessed
via www.sedar.com and readers
are urged to review these materials, including the latest technical
reports filed with respect to the Company's mineral
properties.
All geological information provided in this press release,
including all information on the Blanco Creek Property has been
gathered during the Company's due diligence process and has not
been independently verified by management.
SOURCE Black Mammoth Metals Corp