Blast Resources arranges $750,000 private placement

Executive Summary

• Blast Resources Inc. has arranged a non-brokered private placement offering units at $0.25 per unit, targeting aggregate gross proceeds of up to $750,000.
• Each unit consists of one common share and one transferable common share purchase warrant, with warrants exercisable at $0.35 per share for two years.
• Proceeds are designated for operational needs, working capital, and general corporate purposes.

Key Details

• Offering Structure: Non-brokered private placement of units.
• Price: $0.25 per unit.
• Gross Proceeds: Up to $750,000.
• Unit Composition: Each unit includes one common share and one transferable common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.35 per common share.
  • Duration: Two years from closing, subject to acceleration.
  • Acceleration Clause: If the closing price of shares is at or exceeds $0.50 for 10 consecutive trading days, the company may issue notice for warrants to expire 30 days later unless exercised.
• Use of Proceeds: Operational needs, working capital, and general corporate purposes.
• Hold Period: Four-month hold period applies to all securities issued, per Canadian securities laws and CSE policies.
• Finders' Fees: The company may pay finders' fees to eligible finders in connection with the offering.