Black Iron
21.7.2021 15:27:25 CEST | ACCESS Newswire | Press release
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, ON / ACCESSWIRE / July 21, 2021 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI; OTC PINK:BKIRF; FRANKFURT:BIN) is pleased to announce that it has closed its previously announced short form prospectus offering, including the full exercise of the over-allotment option, raising gross proceeds of $11.5 million for the Company through the issuance of 28,750,000 common shares of the Company (collectively, the "Shares") at a price of $0.40 per Share (the "Offering"). The Offering is subject to final approval by the Toronto Stock Exchange (the "TSX").
Canaccord Genuity Corp. acted as agent and sole bookrunner in connection with the Offering
The Company intends to use the net proceeds of the Offering for (a) the completion of an updated Feasibility Study for the Company's Shymanivske Iron Ore Project, (b) the completion of the Ukrainian TEO; (c) the completion of an Environmental and Social Impact Assessment, (d) commencement of the relocation and construction of a new Ukrainian military firing range and ammunition depot to secure access to land required for the Company's Shymanivske Iron Ore Project, and (e) working capital and general corporate purposes, all as described in more detail in the short form prospectus (the "Prospectus") of the Company dated July 16, 2021 and available on SEDAR at www.sedar.com.
Matt Simpson, Chief Executive Officer of the Company, said, "It is great to see such strong level of interest from institutional investors in the Offering and the Shymanivske Iron Ore Project as we continue to move the project forward towards construction."
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. "United States" and "U.S. persons" shall have the meanings assigned to them in Regulation S under the U.S. Securities Act.
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske project located in Kryviy Rih, Ukraine. Full mineral resource details can be found in the NI 43-101 technical report entitled "Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" published in March 2020 with an effective date of November 21, 2017 (the "PEA") under the Company's profile on SEDAR at www.sedar.com. The Shymanivske project is surrounded by five other operating mines, including Metinvest and ArcelorMittal's iron ore complexes. The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Please visit the Company's website at www.blackiron.com for more information.
For more information, please contact:
Matt Simpson
Chief Executive Officer
Black Iron Inc.
info@blackiron.com
Forward-Looking Information
This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the intended use of proceeds of the Offering, the Company's ability to obtain final approval from the TSX and the Company's future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the Company using any proceeds from the Offering in a manner other than as set out herein, the Company not being able to obtain final approval from the TSX with respect to the Offering, general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company and the Prospectus. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.
SOURCE: Black Iron Inc.
View source version on accesswire.com:
https://www.accesswire.com/656453/Black-Iron-Announces-Closing-of-115-Million-Offering
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
GA-ASI Completes First Flight of MQ-9B With AEW Pods21.5.2026 17:00:00 CEST | Press release
New Development Effort Will Enable Airborne Early Warning Capability for MQ-9B SAN DIEGO, CA / ACCESS Newswire / May 21, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) flew its MQ-9B Remotely Piloted Aircraft for the first time with Airborne Early Warning (AEW) pods. The much-anticipated AEW capability is being provided through a partnership with Saab. Once the AEW sensor, named LoyalEye, is made available to MQ-9B operators and new customers, it will deliver persistent and cost-effective air surveillance capabilities in regions where it is currently unavailable. GA-ASI conducted a validation flight of MQ-9B using AEW radar pods on May 19 from GA-ASI's Desert Horizon flight operations facility in Southern California using a company-owned aircraft. The flight signaled the first step in a development process that is expected to take several months and culminate with a full-capability demonstration later this year. GA-ASI and Saab announced their partnership last year with the
AI Trading Changing Stock, Gold, and Forex Trading Market: Funds Coin's Multi-Agent Trading Update Dominates20.5.2026 11:00:00 CEST | Press release
DENVER, CO / ACCESS Newswire / May 20, 2026 / Ten years ago, algorithmic trading was the exclusive territory of investment banks and hedge funds. Today, a retail trader with $100 and a smartphone can access the same class of automated execution that once required a team of quants and millions in infrastructure. That's not an exaggeration. It's the shift that's quietly reshaping stock and forex markets, and AI trading agents are at the center of it. The Old Way Is Breaking Down Manual trading made sense when markets moved slowly enough for humans to keep up. That world no longer exists. Forex markets process over $7 trillion in daily volume. Crypto trades around the clock across hundreds of exchanges. Stock prices react to news in milliseconds. The information moves faster than any individual trader can process, and emotions, such as fear, greed, and hesitation, make an already difficult job even harder. The traders who thrived in this environment were either exceptionally disciplined o
Karbon-X and Evertrak Sign Letter of Intent to Advance Infrastructure-Linked Plastic Waste Reduction Credit Initiative19.5.2026 19:45:00 CEST | Press release
Proposed initiative would evaluate the potential generation of Verra-aligned Plastic Waste Reduction Credits for approximately 200,000 railroad ties made from recycled plastic currently installed across railroad infrastructure in North America. CALGARY, AB / ACCESS Newswire / May 19, 2026 / Karbon-X Corp. (OTCQB:KARX) ("Karbon-X" or the "Company"), a vertically integrated climate solutions company operating across compliance and voluntary environmental markets, today announced the signing of a Letter of Intent with Evertrak LLC ("Evertrak"), the leading manufacturer of Glass Fiber Reinforced Composite (GFRC) railroad ties made from recycled plastic, to explore an infrastructure-linked Plastic Waste Reduction Credit ("PWRC") initiative under Verra's Plastic Waste Reduction (PWR) Standard. Across North America, 20 million railroad ties made from wood are replaced annually. Approximately 4-6 million of those ties are less than 12 years old. Safe, resilient, and efficient railroad infrastr
AP Technologies Acquires Blueacre Technology, Adding Nitinol and Precision Laser Processing to Its Catheter Platform19.5.2026 16:00:00 CEST | Press release
Acquisition extends AP Technologies' vertically integrated catheter platform into nitinol and precision laser processing. Dundalk, Ireland joins the company's network of Centers of Excellence as its first European operation. SINGAPORE AND DUNDALK, IRELAND / ACCESS Newswire / May 19, 2026 / AP Technologies, a vertically integrated contract manufacturer of catheters and medical tubing, today announced the acquisition of Blueacre Technology, a Dundalk, Ireland specialist in laser micromachining and nitinol processing for the medical device industry. The acquisition establishes AP Technologies' first European operation in Ireland's medtech corridor, and extends its catheter platform into the laser-processed metallic components used in next-generation minimally invasive devices. Terms were not disclosed. Blueacre brings nearly two decades of capability in laser micromachining and nitinol processing for the medical device industry, including femtosecond and picosecond laser cutting, laser we
Business Leaders Still Primarily Use AI for Simple Tasks, Study from General Assembly and EZRA Finds19.5.2026 15:00:00 CEST | Press release
Those who have received leadership-specific AI training more likely to use AI more often and more strategically NEW YORK CITY, NY / ACCESS Newswire / May 19, 2026 / A new survey of more than 500 U.S. and U.K. business leaders found that while they are increasingly confident in their own AI skills, the most common use cases of the technology at the leadership level remain simple tasks like searching for information (69%), summarizing documents (68%) and drafting emails (58%). Strategic applications such as scenario planning (27%), organizational design (27%) and financial modeling (28%) lag far behind. The research was conducted by General Assembly, a global leader in practical AI skills training, in collaboration with EZRA, a leading global coaching and learning provider, both LHH brands. The study also surfaces a sharp divide between leadership levels. Vice presidents consistently fall behind director-level colleagues across nearly every measure of AI adoption and competence, emerging
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom