CALGARY, ALBERTA–(Marketwired – Oct. 27, 2016) – Blackbird Energy Inc. (TSX VENTURE:BBI) (“Blackbird” or the “Company“) is pleased to announce that it has closed the previously announced non-brokered private placement of 16,500,000 flow-through common shares (the “Shares“) pursuant to the Income Tax Act (Canada) (“ITA“) in respect of Canadian Exploration Expenses (“CEE“) at a price of $0.485 per Share for proceeds of $8,002,500 (the “CEE Private Placement“).
The proceeds from the CEE Private Placement will be used by the Company to incur eligible CEE with respect to its previously announced strategic accelerated business plan. The Shares are subject to a hold period ending February 28, 2017.
Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.
For more information please view our Corporate Presentation at www.blackbirdenergyinc.com.