Blackrock Gold Announces Upsize of its Previously Announced Bought Deal Public Offering to C$9.0 Million
Blackrock Gold Announces Upsize of its
Previously Announced Bought Deal Public
Offering to C$9.0 Million
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2021) - Blackrock Gold Corp. (TSXV: BRC)
("
Blackrock
" or the "
Company
") is pleased to announce that due to significant demand, the Company
has increased the gross proceeds of the previously announced bought-deal public offering (the
"
Offering
") from C$7,020,000 to C$9,000,000. Under the revised Offering, the Underwriters have
agreed to purchase for resale 12,500,000 units of the Company (the "
Units
") at a price of C$0.72 per
Unit (the "
Unit Price
") on a "bought deal" basis. Each Unit shall be comprised of one common share in
the capital of the Company (each a "
Common Share
") and one half of one Common Share purchase
warrant (each a "
Warrant
"). Each whole Warrant shall be exercisable into one Common Share at a
price of C$1.10 at any time on or before the date which is 36 months after the closing date of the
Offering. The revised Offering is being led by Red Cloud Securities Inc. as lead underwriter and sole
bookrunner on behalf of a syndicate of underwriters (collectively, the "
Underwriters
").
As part of the revised agreement, the Company has granted the Underwriters an option, to cover over-
allotments and for market stabilization purposes, to purchase up to 1,875,000 additional Units at the Unit
Price to raise additional gross proceeds of up to C$1,350,000 (the "
Over-Allotment Option
"). The
Over-Allotment Option will be exercisable in whole or in part, at any time for a period of 30 days from and
including the closing date of the Offering. In the event that the over-allotment option is exercised in full, the
aggregate gross proceeds of the revised Offering will be C$10,350,000.
The Units will be offered and sold by way of a short form prospectus to be filed in all of the provinces of
Canada, with the exception of Quebec, and will be offered and sold elsewhere outside of Canada on a
private placement basis. The net proceeds raised from the Offering will be used to fund the exploration
of the Company's Tonopah West and Silver Cloud properties in Nevada and for working capital and
general corporate purposes. The Offering is scheduled to close on or about February 19, 2021 and is
subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other
approvals, including the approval of the listing of the Common Shares issued pursuant to the sale of
Units and the exercise of Warrants on the TSX Venture Exchange (the "
TSXV
").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor
shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The
Units being offered will not be, and have not been, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold within the United States or to, or for the account or
benefit of, a U.S. person.
About Blackrock Gold 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 consisting of
low-sulfidation epithermal gold & silver projects located along on 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 Gold 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.
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; and general
market and industry conditions.
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/73174