Blackbird 11,912,465-Share Private Placement

Blackbird 11,912,465-Share Private Placement

November 9, 2009

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered and a brokered private placement announced Sept. 2, 2009.

Shares: 11,912,465

Price: 25 cents per share

Warrants: 5,956,233 share purchase warrants to purchase 5,956,233 shares

Exercise price: 40 cents for a three-year period; the warrants are subject to an accelerated exercise provision in the event the volume weighted average trading price exceeds $1.00 for a period of 20 consecutive trading days

Hidden placees: 141

Insiders: Seyed Mohammad 900,000; Modira Investments Ltd. (Robert Booth) 200,000

Pro groups: Mark E. MaCrae 70,000; Andrew Dempsey 40,000; Ronnie Sidhu 88,000; Paul Eto 100,000; Ali Hakimzadeh and/or Shahrzad Montazerz 200,000; Tom Cox 200,000; Jock McDermid 62,500; Elaine McDermid 62,500; Louise Wright 24,000; Ivano Veschini 100,000; Ken Lee 20,000; Paul E. Brown 10,000; J. Bryan Daniels 80,000; Michael Daniels 140,000; Private Money Management PMM Inc. (Bruce McConnachie) 100,000; Nicole Alagich 20,000 C.M. (Clive) Stockdale 100,000

Finder's fee: Verdmont Capital (Taylor Housser and Glynn Fisher) - $14,000

Agents' fees: Canaccord Capital Corp. - $140,125, corporate finance fee of $30,000, 125,000 shares and 136,025 agent's warrants that are exercisable into common shares at 25 cents per share for a 24-month period; Bolder Investment Partners - $6,250 and 25,000 agent's warrants that are exercisable into common shares at 25 cents per share for a 24-month period; Research Capital Corp. - $17,500 and 70,000 agent's warrants that are exercisable into common shares at 25 cents per share for a 24-month period; PI Financial Corp. - $6,125 and 24,500 agent's warrants that are exercisable into common shares at 25 cents per share for a 24-month period; Leede Financial Markets Inc. - $5,000 and 20,000 agent's warrants that are exercisable into common shares at 25 cents per share for a 24-month period

Back to the News page

.