Blast Resources Announces Private Placement

Executive Summary

• Blast Resources announced a non‑brokered private placement of units at $0.25 each, targeting up to $750,000 in gross proceeds.
• Each unit consists of one common share and one transferable warrant allowing purchase of an additional share at $0.35 per share for two years (with acceleration provisions).
• Proceeds are earmarked for operational needs, working capital, and general corporate purposes; securities will be subject to a four‑month hold period under CSE rules.

Key Details

• Offering Size: Up to $750,000 gross proceeds.
• Unit Price: $0.25 per unit.
• Unit Composition: 1 common share + 1 transferable common share purchase warrant.
• Warrant Terms:
• Exercise price = $0.35 per share.
• Valid for two years from closing, subject to acceleration.
• Acceleration trigger: if the Company’s share price ≥ $0.50 for 10 consecutive trading days, the Company may give notice; warrants then expire 30 days after notice unless exercised.
• Hold Period: All securities issued will be locked for four months per Canadian securities law and CSE policy.
• Use of Proceeds: Intended for operational needs, working capital, and general corporate purposes.
• Finder’s Fees: The Company may pay eligible finders in connection with the Offering.
• Closing Conditions: Subject to customary closing conditions; issuance will be announced via news release.

Notable Quotes

(No direct quotes were provided in the release.)