|August 13, 2013|
|Bitterroot Resources Ltd. (BTT, TSX-V) has closed a non-brokered private placement of 12,532,500 units priced at C$0.08, for gross proceeds of C$1,002,600. |
Each unit consists of one common share and one common share purchase warrant which is exercisable at $0.15 until August 8, 2014.
The common shares, plus any common shares acquired through the exercise of warrants or 265,650 broker warrants are subject to a hold period expiring December 9, 2013.
The proceeds will be used to fund a 3,000-metre drilling program to test several of Bitterroot's nickel/copper/PGM targets in Michigan and for working capital. Drilling is expected to commence within 60 days.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
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