Blackheath Resources Inc. (TSXV:BHR) announced a non-brokered private placement of 3,000,000 units at CAD 0.35 per unit for gross proceeds of CAD 1,050,000 on January 11, 2013. Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.50 per share for a period of 36 months from closing. The warrants issued will be subject to an accelerated expiry commencing on the date that is four months and one day after the closing, if the common shares of the company trade at or greater than CAD 0.80 per share for 20 days. The warrants will stand expired on the 30th day from the day of the notice by the company regarding accelerated expiry. The company will pay a cash commission of up to 7% of the proceeds and will issue non-transferable units equivalent to 7% of the units issued by the finders. Each such unit will be issued on the same terms as those issued under the transaction. The securities issued will be subject to a four month hold period.

On February 19, 2013, the company announced that it has increased the size of the transaction to CAD 1,708,000. The company will now issue 4,880,000 units.