|February 15, 2017|
C$1,288,910 Unit Financing Closed
|Bitterroot Resources Ltd. (BTT, TSX-V) has closed a non-brokered private placement of 7,160,611 units priced at C$0.18, for gross proceeds of C$1,288,910.|
Each unit consists of one common share and one half common share purchase warrant which is exercisable at C$0.30 until February 14, 2019. The warrants are subject to accelerated exercise provisions if Bitterroot's shares trade on the TSX Venture Exchange at C$0.50 for greater than 20 consecutive trading days. Finder's fees paid in conjunction with the private placement consist of C$54,318.60 in cash and the issuance of 301,770 warrants exercisable at C$0.30 for two years.
The common shares, plus any common shares acquired through the exercise of warrants or broker warrants are subject to a hold period expiring June 14, 2017.
The proceeds will be used to fund the first phase of exploration on the Company's Hackberry Silver Project and for working capital. A NI 43-101 -- compliant Technical Report on the Hackberry Silver Project has been submitted to the TSX Venture Exchange for approval and will be available on The Company's website (www.bitterrootresources.com) and www.sedar.com following receipt of Exchange approval.
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.