Vancouver, British Columbia, April 10, 2013 - Black Widow Resources (TSXV:BWR) is one of the latest new listings on the TSX Venture Exchange.
(http://www.investmentpitch.com/video/0_74ljocwk/Black-Widow-Resources-TSXV-BWR-New-Listing)InvestmentPitch.com has produced a "video news alert (http://www.investmentpitch.com/video/0_74ljocwk/Black-Widow-Resources-TSXV-BWR-New-Listing)" which provides a brief overview of Black Widow Resources. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.InvestmentPitch.com/) and enter "Black Widow" in the search box.
The company raised gross proceeds of approximately $1.1 million through the issuance of 1,797,500 flow-through units at $0.17 per unit, with each unit containing one-half of a common share warrant, and 5,309,500 common share units at $0.15 per unit, with each unit containing a full common share warrant. The warrants are exercisable at $0.20 for a 2 year period.
The company is engaged in the business of mineral exploration, currently focused in northern Ontario, with an objective is to locate, acquire and develop exploration or development properties.
Despite being a relatively new company, its directors and management team have many decades of experience in the junior resource sector, and in providing corporate and financial administrative services to public companies.
The company's current projects include Gremlin in the "Ring of Fire" area of the James Bay Lowlands, Santa Maria located near Dryden and Shunsby in the Swayze greenstone belt to the west of Timmins.
The company holds a 100% in the Gremlin property, which consists of 39 claims, and has completed approximately $220,000 in exploration expenditures. The company is targeting 9 electromagnetic anomalies for VMS style copper-zinc deposits, and has budgeted $1.0 to 1.5 million for a drill program. The company has also identified 5 kimberlite intrusive rock bodies, which offer the potential to contain diamonds.
The company holds a 70% interest in the Santa Maria Project, pursuant to a joint venture with New Klondike Exploration. The Santa Maria property includes at least 6 known historical gold occurrences, with gold values ranging from trace to 28 grams per tonne documented on the property. Visible gold has been observed in 3 of these zones. Additional work is currently being planned to continue the assessment of the 3 new anomalies identified in an airborne survey.
For more information on the company's properties, please refer to the NI 43-101 reports on Sedar.com.
The shares began trading at $0.15 per share, and with 21.2 million shares outstanding, the company is capitalized at $3.2 million.
For more information, please visit the company's website at www.blackwidowresources.com (http://www.blackwidowresources.com/), or contact Neil Novak, President & CEO at 416-203-8636 or email nnovak@blackwidowresources.com (mailto:nnovak@blackwidowresources.com).
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com (mailto:bmorgan@investmentpitch.com)
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
