Black Iron Closes Bought Deal Private Placement and Announces Participation at PDAC March 2-5, 2014

Black Iron Closes Bought Deal Private Placement and Announces Participation at 
PDAC March 2-5, 2014 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Black Iron Inc. 
TSX SYMBOL:  BKI
FRANKFURT SYMBOL:  BIN 
FEBRUARY 20, 2014 
Black Iron Closes Bought Deal Private Placement and Announces Participation at
PDAC March 2-5, 2014 
TORONTO, ONTARIO--(Marketwired - Feb. 20, 2014) -  
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 
/T/ 
--  BOUGHT DEAL PRIVATE PLACEMENT CLOSED WITH AGGREGATE GROSS PROCEEDS TO 
BLACK IRON OF $3,005,600 
--  FOCUS NOW SHIFTS TO CLOSING THE METINVEST TRANSACTION, STARTING FIRST 
STAGE EPCM WORK, AND SECURING AN OFF-TAKE PARTNER 
--  CORPORATE ACTIVITIES AND DEVELOPMENT IN UKRAINE CONTINUE UNITERRUPTED 
WITH HOPES FOR A QUICK AND PEACEFUL RESOLUTION 
--  BLACK IRON WILL ATTEND PDAC 2014 IN BOOTH #2552 AND PRESENT AS PART OF 
THE FERRO METALS & FERTILIZERS SESSION AT 3:40PM ON MARCH 4, 2014 
/T/ 
Black Iron Inc. ("Black Iron" or the "Company")
(TSX:BKI)(FRANKFURT:BIN) has closed its previously announced bought deal
private placement (the "Private Placement") (see press release dated
January 31, 2014) with Dundee Securities Ltd., as sole underwriter, and is
pleased to announce its participation at the Prospectors and Developers
Association of Canada ("PDAC") annual conference taking place from
March 2-5, 2014 at the Metro Toronto Convention Centre. 
Closing of Fully Subscribed Bought Deal Private Placement 
Pursuant to the Private Placement, 17,680,000 units of the Company (each, a
"Unit") were issued at a price of $0.17 per Unit for aggregate gross
proceeds to the Company of $3,005,600. Each Unit consists of one common share
of the Company and one common share purchase warrant ("Warrant").
Each Warrant will entitle the holder to purchase one common share of the
Company at a price of $0.25 until February 20, 2017. If all the Warrants are
exercised, it will result in additional proceeds to Black Iron of $4,420,000.
The Warrants will not be listed for trading on the Toronto Stock Exchange. All
securities issued pursuant to the Private Placement will be subject to a four
month hold period which will expire on June 21, 2014.  
"We are extremely pleased with the overwhelming support for this
financing, as evidenced by the subscriber take-up and the follow-on interest
received in the two weeks following announcement. We plan to use the proceeds
from this private placement, along with the funds to be received upon closing
of our strategic arrangement with Metinvest B.V, to fund our development needs
throughout the balance of this year. With this financing behind us, our focus
moves to closing the Metinvest transaction, which is expected in the coming
weeks, then to the first stage of EPCM work for the Project, and to finalizing
an off-take agreement," said Matt Simpson, President and CEO of Black
Iron. 
Corporate Activities and Development in Ukraine Continue Uninterrupted 
The Company continues to monitor the situation in Kyiv and advises that
business continues as usual at Black Iron's office and Project sites in
Kryviy Rih, Ukraine, despite the escalating demonstrations and violence in
Kyiv. 
"We are saddened by the ongoing and unfortunate situation in Kyiv and are
hopeful that a quick and peaceful resolution can be found for everyone
involved," said Matt Simpson. "Notwithstanding these circumstances
all corporate development and related activities for Black Iron continue
uninterrupted, both in and outside of Ukraine. Everyone continues to go to
work, and prospective off-take partners and equipment vendors continue to
investigate the potential of working with us, including routine site visits and
team meetings in Ukraine." 
"The sooner a peaceful resolution can be achieved, the sooner the country
can reassert itself as a prime destination for foreign investment. Ukraine has
tremendous opportunities ahead of it with significant mineral and agricultural
wealth, a unique geographical location, fully built infrastructure systems for
road, rail, power, and port, and a highly skilled, hard working
population." 
Attending and Presenting at PDAC (Booth #2552)  
Black Iron will be exhibiting at this year's PDAC Investors Exchange
taking place at the Metro Toronto Convention Centre, South Building, from
Sunday, March 2nd to Wednesday, March 5th, 2014. 
The team from Black Iron, including Matt Simpson, President & CEO, Paul
Bozoki, CFO, Aaron Wolfe, VP Corporate Development, Undriadi Benggawan, Project
Director, and Michael McAllister, Manager, Investor Relations, will be
available to speak to shareholders and interested investors about the
Company's developments at its flagship Shymanivske Iron Ore Project in
Kryviy Rih, Ukraine, including the results of an updated bankable feasibility
study dated January 24, 2014 titled "Feasibility Study of the Shymanivske
Iron Ore Deposit for Black Iron Inc." (the "BFS") which has been
filed under the Company's profile on SEDAR at www.sedar.com. The BFS
outlines an operation producing 9.9 million tonnes per year of 68% iron ore
concentrate, projecting a 48% internal rate of return (39% after-tax), a US$3.3
billion net present value at an 8% discount (US$2.6 billion after-tax), and a
two year payback (two and a half years after-tax). The BFS has been prepared in
accordance with the guidelines of National Instrument 43-101 by the independent
firms of Lycopodium Minerals Canada Ltd.; Soutex Mineral & Metallurgical
Consultants; Watts, Griffis and McOuat Limited; and P&E Mining Consultants
Inc. 
What differentiates Black Iron from other iron ore developers is ALL of the key
infrastructure essential for a cost effective project is located within very
close proximity of the project site coupled with access to a highly skilled
competitive cost labour force. Specifically, letters of intent have been
executed to secure rail, port, power, water and natural gas from suppliers and
there is a city of 750,000 people located only 35km from site via existing
paved roads. 
Black Iron's Presentation (3:40 pm Tuesday, March 4 in Room 802AB)  
Matt Simpson, President and CEO of Black Iron will address PDAC participants as
part of the Ferro Metals & Fertilizers Session on Tuesday, March 4 at 3:40
pm in Room 802AB of the Metro Toronto Convention Centre, South Building. 
Exhibit Location & Hours  
Black Iron will be located at booth #2552 on level 800 of the Metro Toronto
Convention Centre, South Building: 
Sunday March 2 10:00 am - 5:30 pm  
Monday March 3 10:00 am - 5:30 pm  
Tuesday March 4 10:00 am - 5:30 pm  
Wednesday March 5 9:00 am - 12:00 pm 
The Metro Toronto Convention Centre, South Building, is located at 222 Bremner
Boulevard in Toronto. For additional information and to register for the
conference, please visit www.pdac.ca.  
About Black Iron  
Black Iron is an iron ore exploration and development company, advancing its
100 percent-owned Shymanivske project located in Kryviy Rih, Ukraine. This
project contains an NI 43-101 compliant resource, with 645.8 Mt Measured and
Indicated mineral resources, consisting of 355.1 Mt Measured mineral resources
grading 32.0% Total iron and 19.5% Magnetic iron, and Indicated mineral
resources of 290.7 Mt grading 31.1% Total iron and 17.9% Magnetic iron, using a
cut-off grade of 10% Magnetic iron. Additionally, the project contains 188.3 Mt
of Inferred mineral resources grading 30.1% Total iron and 18.4% Magnetic iron.
The project is surrounded by five other operating mines, including
ArcelorMittal's iron ore complex. The Company believes that existing
infrastructure, including access to power, rail and port facilities, will allow
for a quick development timeline to production. Further, the Company holds an
exploration permit for the adjacent Zelenivske project, which it intends to
further explore to determine its potential. Please visit the Company's
website at www.blackiron.com or write us at info@blackiron.com for more
information. 
The technical and scientific contents of this press release have been prepared
under the supervision of and have been reviewed and approved by Matt Simpson,
P.Eng, President and CEO of Black Iron Inc., who is a Qualified Person as
defined by NI 43-101. For further information, please see the technical report
BFS of the Company, which is available on SEDAR at www.sedar.com. 
Forward-Looking Information 
This press release contains forward-looking information which may include, but
is not limited to, statements about the expected use of proceeds; the closing
of the Metinvest transaction, the development potential of the Company's
project, the timing and amount of future exploration and development of the
project; and the future financial or operating performance of the Company and
its projects. Often, but not always, forward-looking information can be
identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled",
"estimates", "forecasts", "intends",
"anticipates" or "believes" or variations (including
negative variations) of such words and phrases, or by the use of words or
phrases that state that certain actions, events or results "may",
"could", "would", "might" or "will" be
taken, occur or be achieved.  
Forward-looking information is based on certain assumptions and analyses made
by the Company and based on known facts at the time. Forward-looking
information involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company
and/or its subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information contained in this press release, including, without limitation,
those described in the Company's public disclosure documents which may be
found under the Company's profile on SEDAR. Although the Company has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in such forward-looking
information, there may be other factors that may cause actions, events or
results to differ from those anticipated, estimated or intended. Should one or
more of these risks or uncertainties materialize, or should assumptions
underlying such forward-looking information prove incorrect, actual results,
performance or achievements may vary materially from those expressed or implied
by the forward-looking information contained in this press release. The
forward-looking information contained herein is made as of the date of this
press release and the Company disclaims any obligation to update or review such
information or statements, whether as a result of new information, future
events or results or otherwise, except as required by law. 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Black Iron Inc.
Michael McAllister
Manager, Investor Relations
+1 (416) 309-2950
info@blackiron.com
or
Black Iron Inc.
Matt Simpson
President & Chief Executive Officer
+1 (416) 309-2138 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
SUBJECT:  FNC 
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-0- Feb/20/2014 14:33 GMT
 
 
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