BlackPearl Resources Inc.
BLACKPEARL ANNOUNCES CLOSING OF $10 MILLION PRIVATE PLACEMENT AND EXPANSION OF ITS CREDIT FACILITIES

BlackPearl Resources Inc. 

14.04.2014 15:11

Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 

CALGARY, ALBERTA - BlackPearl Resources Inc. ('BlackPearl' or the 'Company')
(TSX:PXX) (NASDAQ OMX Stockholm:PXXS) is pleased to announce that it has closed
its previously announced private placement of 3,773,585 common shares of
BlackPearl at a price of $2.65 per share for aggregate gross proceeds of
$10,000,000. 

With the closing of the private placement of common shares, together with the
previously announced closing of the public offering of common shares and the
exercise of the over-allotment option, the Company has issued an aggregate of
33,373,585 common shares for gross proceeds of $88,440,000. 

The Company intends to use the net proceeds from the private placement to fund
ongoing capital expenditures, including the first phase of the Onion Lake
thermal project, and for general corporate purposes. 

BlackPearl is also pleased to announce that the Company's banking syndicate led
by Alberta Treasury Branches has increased the Company's credit facilities from
$115 million to $150 million upon the satisfaction of certain conditions
including the completion of the issuances of common shares. These facilities
are currently unutilized. 

This news release does not constitute an offer to sell or a solicitation of any
offer to buy the securities in the United States. The securities offered have
not been and will not be registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements of such Act. 



Forward-Looking Statements

Certain of the statements made and information contained herein is
forward-looking statements and forward looking information (collectively
referred to as 'forward-looking statements') within the meaning of Canadian
securities laws, including the use of proceeds. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as 'anticipate', 'believe', 'plan', 'continuous', 'estimate',
'expect', 'may', 'will', 'project', 'should', 'predict', 'targeting', 'seek',
'intend', 'could', 'potential' or similar words. These statements involve known
and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements. The Company believes the expectations reflected in
those forward-looking statements are reasonable but no assurance can be given
that these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. 

Undue reliance should not be placed on forward-looking statements, which are
inherently uncertain, are based on estimates and assumptions, and are subject
to known and unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or circumstances
contemplated by the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which forward-looking
statements are based will in fact be realized. Actual results will differ, and
the difference may be material and adverse to the Company and its shareholders. 




         For more information, please contact:
         John Festival - President and Chief Executive Officer, Tel.: (403)
215-8313 
         Don Cook - Chief Financial Officer, Tel: (403) 215-8313
News Source: NASDAQ OMX



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Language:     English
Company:      BlackPearl Resources Inc.
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0002060863
WKN:          
 
End of Announcement                             DGAP News-Service
 
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