Blackrock GOLD Announces Management Changes, a New Strategy and Revised Terms of Its Private Placement Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
1500 – 409 Granville Street
Vancouver, BC, V6C 1T2
BLACKROCK GOLD ANNOUNCES MANAGEMENT CHANGES, A NEW STRATEGY
AND REVISED TERMS OF ITS PRIVATE PLACEMENT OFFERING
FOR IMMEDIATE RELEASE TSX-V symbol: BRC
Vancouver, Canada – January 12, 2017 – Blackrock Gold Corp. (“Blackrock” or the
“Company”) (TSXV: BRC) is pleased to announce the appointment of Mr. Michael O’Connor as
CEO of Blackrock effective January 12, 2017. The appointment was made as part of the
Company’s new strategy focusing on the acquisiti on of advanced gold and silver projects.
Mr. O’Connor brings over 29 years’ experience in wealth management , investor relations,
corporate communications and corporate development and more recently held the position of
President and CEO of a silver exploration company for five years.
Mr. O’Connor commented: “I am both honored and ve ry excited to be join ing Blackrock at this
important and transformative time for the Company. In order to make Blackrock a successful
gold and silver Company, our highly experience d board has implemented a new strategy focused
on the acquisition of quality advanced gold and s ilver projects that have near term production
potential and are located in mining friendly juri sdictions. I am confident that while working
closely with the members of the Board of Director s, all of whom are very experienced and well
respected mining industry professionals, we can, as a team, deliver concrete results on the
Company’s new goals and objectives.”
The Company is also pleased to ann ounce the appointment of Mr. Catalin Chiloflischi, CEO of
Canarc Resource Corporation, to the Boar d of Directors effective January 12, 2017.
Mr. Chiloflischi is a professional economist with 20 years of e xperience in business
development, mergers and acquisitions, cor porate finance, communications, governance and
sustainability in Canada, US, Europe and Asia. He has been instrumental in raising over
CA$200 million in joint venture, equity and debt financings for mineral resource projects since
2010.
Mr. Chiloflischi stated “I am pleased to join a broad team comprised of very skilled, experienced
and successful mining professionals. Because of th e quality of people involved both at the board
- 2 -
and management level, I see Blackrock as a uni que opportunity to help build a successful gold
and silver company. While working together I be lieve we can realize Blackrock’s new vision to
acquire and advance gold and silver projects towards production.”
A total of 300,000 stock options for a term of five years at an exercise price of CAD $0.075 have
been granted to management and directors.
In order to finance its new strategy, the Company has amended the terms of its non-brokered
private placement previously announced on November 21, 2016 (the “ Private Placement ”).
The amended number of units has been increased to up to 4,000,000 units (the “ Units”) at an
amended price of $0.075 per Unit, for gross pr oceeds of up to $300,000. Each Unit is comprised
of one common share and one share purchase warrant.
Each whole warrant will entitle the holder to acq uire one additional common share in the capital
of the Company at a price of $0.15 per share, fo r a period of two years from the date the Units
are issued. If during the exercise period of the warrants, but after the re sale restrictions on the
shares have expired, the Company’s shares trade at or above a weighted average trading price of
$0.30 per share for 15 consecutive trading days, th e Company may accelerate the expiry time of
the warrants by giving written no tice to warrant holders that th e warrants will expire 30 days
from the date of providing such notice.
All other terms and conditions of the previously announced private placement remain the same.
The Company plans to allocate the gross proceed s of the Private Placement to general working
capital. A portion of the Private Placement may be completed in accordance with the exemption
set out in BC Instrument 45-536 ( Exemption from prospectus requirement for certain
distributions through an investment dealer ) (the “ Investment Dealer Exemption ”). In
accordance with the requirements of the Invest ment Dealer Exemption, the Company confirms
there is no material fact or material change re lated to the Company which has not been generally
disclosed. The Private Placement is subject to the approval of the Exchange.
The securities issued in the Private Placement have not been and will not be registered under the
U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and
may not be offered or sold, direc tly or indirectly, or delivered within the United States or to, or
for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent
registration or an applicable ex emption from the registration requirements. This news release
does not constitute an offer to sell or a solicitation to buy such securities in the United States.
The Company also wishes to announce that Mr. David Robinson has resigned as President, CEO
and Director of Blackrock e ffective January 12, 2017. The Co mpany would like to thank
Mr. Robinson for his contributions in establishing Blackrock and wishes him every success in his
future endeavours.
- 3 -
For further information, please contact:
Michael E. O’Connor
CEO
Blackrock Gold Corporation
Telephone 604-317-6197
Email [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of
this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. All statements, other than statements of historical fact,
constitute “forward-looking statements” and include any information that addresses activities, events or
developments that the Company believes, expects or anticipates will or may occur in the future including the
Company’s strategy, plans or future financial or operating performance and other statements that express
management’s expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”,
“continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of
these words or other variations on these words or comparable terminology. These statements, however, are
subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed, implied by
or projected in the forward-looking information or statements. Important factors that could cause actual results
to differ from these forward-looking statements include bu t are not limited to the ability of the Company to attract
financing and the general market conditions of the industry in which the Company operates and
the other factors discussed in the sections relating to risk factors discussed in the Company’s continuous
disclosure filings on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, the reader should not
place any undue reliance on forward-looking information or statements. Except as required by law, the Company
does not intend to revise or update these forward-looking statements after the date of this document or to
revise them to reflect the occurrence of future unanticipated events.