Vancouver, British Columbia--(Newsfile Corp. - November 6, 2014) - Black Springs Capital Corp. (TSXV: BSG.H) (the "Corporation" or "Black Springs") is pleased to announce that it intends to carry out, subject to approval from the TSX Venture Exchange (the "Exchange"), a non-brokered private placement for gross proceeds of up to $400,000 (the "Private Placement"). The Private Placement will consist of common shares of the Corporation (each, a "Share"), at a new price of $0.07 per Share.
The previous press release dated September 2, 2014 announcing a Private Placement at a price per Share of $0.06 is therefore null and void and replaced by the present one.
All of the Shares issued pursuant to the Private Placement will be subject to a four-month hold period from the date of issue. The net proceeds from the Private Placement will be used to fund the identification and completion of a Qualifying Transaction.
About the Corporation
The Corporation is designated as a Capital Pool Company by the Exchange. The Corporation has not commenced commercial operations and has no assets other than cash. The only business of the Corporation is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
For further information, please contact Donald Sharpe, President and Chief Executive Officer at:
1660 - 1055 West Hastings Street
Vancouver, BC V6E 2E9
Telephone: 604.568.0199
Facsimile: 604.681.4760
This news release contains statements about the Corporation's expectations regarding the completion of the Private Placement that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the Private Placement. The forward looking statements contained in this news release are made as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the 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 news release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of Black Springs Capital Corp. The securities of Black Springs Capital Corp. have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.
