Blackrock Closes C$5.0 Million Private Placement with Eric Sprott
Blackrock Closes C$5.0 Million Private
Placement with Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2022) -
Blackrock Silver Corp. (TSXV: BRC)
(the "
Company
") is pleased to announce the completion of its non-brokered private placement (the
"
Offering
") with 2176423 Ontario Ltd., a company beneficially owned by Eric Sprott, as the sole
investor, as previously announced on February 24, 2022. The Offering consisted of a total of 5,681,819
common shares of the Company ("
Common Shares
") at a price of C$0.88 per Common Share for
gross proceeds of C$5,000,000.72.
The Company intends to use the net proceeds of the Offering for exploration of the Company's portfolio
of gold and silver projects in Nevada, and for general working capital.
In connection with the closing of the Offering, the Company issued 227,272 Common Shares (the
"
Finder's Shares
") to Research Capital Corporation (the "
Finder
") as a finder's fee, which was equal
to 4% of the number of Common Shares placed by the Finder under the Offering.
The Common Shares and Finder's Shares issued in connection with the Offering are subject to a hold
period expiring on July 4, 2022.
The Offering is subject to final approval of the TSX Venture Exchange.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933,
as amended (the "
U.S. Securities Act
") or any U.S. state securities laws, and may not be offered or
sold in the United States or to, or for the account or benefit of, United States persons absent
registration or any applicable exemption from the registration requirements of the U.S. Securities Act
and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Blackrock Silver Corp.
Blackrock is a junior gold-focused exploration company that is on a quest to make an economic
discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of
properties consisting of low-sulphidation epithermal gold & silver projects located along the established
Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
For further information, please contact:
Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
Email:
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation.
Such forward-looking statements concern the net proceeds from the Offering and the
intended use of proceeds therefrom. Such forward-looking statements or information are based on a
number of assumptions, which may prove to be incorrect. Assumptions have been made regarding,
among other things: conditions in general economic and financial markets; exploration costs, timing
and amount of exploration expenditures; and effects of regulation by governmental agencies. The
actual results could differ materially from those anticipated in these forward-looking statements as a
result of risk factors including: the availability of funds; the timing and content of work programs;
results of exploration activities of mineral properties; the interpretation of drilling results and other
geological data; an inability to predict and counteract the effects of COVID-19 on the business of the
Company, including but not limited to the effects of COVID-19 on the price of commodities, capital
market conditions, restriction on labour and international travel and supply chains;
general market
and industry conditions;
and those risks set out in the Company's public documents filed on SEDAR.
Forward-looking statements are based on the expectations and opinions of the Company's
management on the date the statements are made.
The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove to be imprecise
and, as such, readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date the statements were made.
The Company undertakes no obligation to
update or revise any forward-looking statements included in this news release if these beliefs,
estimates and opinions or other circumstances should change, except as otherwise required by
applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/115622