Blast Resources Announces Upsized Private Placement to $1 Million

Executive Summary

• Blast Resources Inc. upsized its previously announced non‑brokered private placement from $750,000 to up to $1,000,000, offering up to 4 million units at $0.25 per unit.
• Each unit consists of one common share and one transferable warrant allowing purchase of an additional share at $0.35 for two years, with acceleration provisions if the share price exceeds $0.50 for ten consecutive trading days.
• Proceeds are earmarked for exploration at the Wales Lake project, working capital, operational needs, and general corporate purposes.

Key Details

• Offering Size: Increased to a maximum of $1,000,000 (up from $750,000).
• Units Offered: Up to 4,000,000 units at $0.25 per unit.
• Unit Composition: 1 common share + 1 transferable common‑share purchase warrant.
• Warrant Terms: Right to buy one additional common share at $0.35 per share; exercisable for two years from closing; subject to acceleration if the market price ≥ $0.50 for ten consecutive trading days, after which warrants may be forced to expire 30 days post‑notice.
• Acceleration Clause: Company may give written notice (via news release) to trigger warrant expiration under the above price condition.
• Finder’s Fees: Company may pay eligible finders in connection with the offering.
• Use of Proceeds:
• Exploration activities at the Wales Lake project (Saskatchewan).
• Operational needs and working capital.
• General corporate purposes.
• Holding Period: All securities issued will be subject to a four‑month hold period per Canadian securities laws and CSE policies.
• Contact: Casey Forward, President & CEO; email [email protected]; phone 778‑688‑1799.

Notable Quotes

(No direct quotes were provided in the release.)