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Black Pearl Minerals Consolidated Inc.: Black Pearl Closes Private Placement

^{Published on 2009-01-05 11:23:50, Last Modified on 2009-01-05 11:24:12 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Jan. 5, 2009) - Black Pearl Minerals Consolidated Inc. (the "Company") (TSX VENTURE:BLK) is pleased to announce the completion of a non-brokered private placement of (i) 2,250,000 "flow-through" shares at a price of $0.10 per share with warrants to purchase up to 1,125,000 shares at an exercise price of $0.25 per share for a period of two years; and (ii) 3,050,000 hard dollar shares at a price of $0.08 per share with warrants to purchase up to 1,525,000 shares at an exercise price of $0.15 per share for a period of two years for aggregate gross proceeds of $469,000.

An aggregate of $19,180 in finder's fees and warrants to purchase up to 220,500 shares at an exercise price of $0.15 per share for a period of two years were issued to Octagon Capital Corporation, MGI Securities Inc., and Canaccord Capital Corporation in connection with the private placement. The securities issued are subject to a four month hold period.

Shares Outstanding: 87,877,801

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.