Blackrock Silver Announces $5 Million Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Blackrock Silver Announces $5 Million Private Placement
VANCOUVER, British Columbia, August 4, 2022 – Blackrock Silver Corp. (TSX-V: BRC) (the “Company”
or “Blackrock”) is pleased to announce that the Company has entered into an agreement with PI Financial
Corp. and Red Cloud Securities Inc. as co-lead agents and joint bookrunners on behalf of a syndicate of
agents (referred to collectively as the “ Agents”) in connection with a marketed “best efforts” private
placement of up to 10,000,000 units (the “ Units”) at a price of C$0.50 per Unit (the “ Offering Price”) to
raise gross proceeds of up to C$5,000,000 (the “Offering”).
Each Unit shall consist of one common share (a “ Common Share”) and one half of one common share
purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable into one Common
Share at an exercise price of C$0.75 for a period of 36 months from the Closing Date.
The Company has granted the Agents an option (the “Agents’ Option”) to offer up to an additional 15% of
the Offering, on the same terms of the Offering, exercisable in whole or in part, at any time up to 48 hours
prior to the closing of the Offering.
The gross proceeds raised from Offering will be used for explor ation of the Company’s portfolio of silver
and gold projects in Nevada, and for general working capital.
The Offering is expected to clo se on or about August 30, 2022, and is subject to a number of closing
conditions including, but not limited to, the receipt of all ne cessary regulatory approvals, including the
approval of the TSX Venture Exch ange. The securities issued und er the Offering will be subject to a four
month hold period from the date of issue in accordance with applicable securities laws.
In consideration for their services, the Company has agreed to pay the Agents a cash commission equal to
6.0% of the gross proceeds from the Offering and to issue the A gents warrants (“ Compensation
Warrants”) equal to 6.0% of the aggregate number of Units issued under the Offering (including Units
issued upon the exercise of the Agents’ Option). The Compensati on Warrants will be exercisable into
Common Shares at a price per Common Share equal to the Offering Price for a period of 36 months from
the closing of the Offering.
It is anticipated that certain directors, officers and other insiders of the Company may acquire Units under
the Offering. Such participation will be considered to be “related party transactions” within the meaning of
TSX Venture Exchange Policy 5.9 (the “Policy”) and Multilateral Instrument 61-101-Protection of Minority
Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company intends to rely
on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101
contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in resp ect of related party participation in the
Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the
fair market value of the consi deration for, the transaction, in sofar as it involves interested parties, is
expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101).
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “ U.S. Securities Act”) or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such registration is available.
About Blackrock Silver Corp.
Blackrock is a junior precious metals 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 project s 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: [email protected]
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of Canadian securities
legislation. Such forward -looking statements concern expe cted subscriptions and closing o f 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 ha ve been made regarding, among other
things: conditions in general economic and financial markets; t iming and amount of capital 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 pr ograms; results of exploration activities of mineral properties; the
interpretation of drilling results and other geological data; a nd general market and industry conditions.
Forward-looking statements are based on the expectations and op inions of the Company’s management
on the date the statements are m ade. The assumptions used in th e 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 belie fs, estimates and opinions or other
circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.