Black Widow Resources Inc. (TSXV:BWR) announced a non-brokered private placement of up to 4,000,000 non flow-through units at a price of CAD 0.05 per non flow-through unit for gross proceeds of CAD 200,000 and 9,000,000 flow-through units at a price of CAD 0.06 per flow-through unit for gross proceeds of CAD 540,000 for total proceeds of CAD 740,000 on February 15, 2017. Each non flow-through unit consists of one common share and one share purchase warrant, with each warrant exercisable into common shares at an exercise price of CAD 0.075 for a period of 24 months. Each flow-through unit consists of one common share and one half of one share purchase warrant, with each full warrant exercisable into one common share at an exercise price of CAD 0.10 for a period of 24 months. The company may pay finder’s fee in cash of up to 8% of the gross proceeds and broker warrants in an amount up to 8% of the total units issued. The company may close the transaction in tranches.