- Blackrock Silver (BRC) has announced a C$6 million private placement led by First Majestic Silver (FR)
- First Majestic will purchase $2 million of the offering
- The company will use the proceeds for drilling on its Tonopah West and Tonopah North properties as well as for general working capital
- The offering is scheduled to close on or about October 29, 2021
- Blackrock Silver is focused on low-sulphidation epithermal gold and silver projects in Nevada
- Blackrock Silver (BRC) closed down by 3.49 per cent trading at $0.83 per share
Blackrock Silver (BRC) has announced a C$6 million private placement led by First Majestic Silver (FR).
The company will offer 7,500,000 units priced at $0.80 per unit on a non-brokered basis.
Each unit is comprised of one common share and one-half of one share purchase warrant.
Each warrant entitles the holder to acquire one additional common share for $1.20 for two years from the units’ date of issuance.
First Majestic will purchase $2 million of the offering.
It is anticipated that certain directors, officers and other company insiders may also participate in the offering.
Blackrock will use the proceeds for:
- Expansion drilling on its Tonopah West property
- Scout drilling on its Tonopah North property
- General working capital
The offering is scheduled to close on or about October 29, 2021.
Andrew Pollard, Blackrock’s President and CEO, commented,
“We’re very happy to see First Majestic increase their equity position in Blackrock. These funds will be used to daylight additional blue sky at the project, both in terms of expansion drilling at DPB and for scout exploration on our new Tonopah North claims.
With 24 drill holes pending, our resource definition program nearing completion, and our geological model demonstrating significant expansion potential, we’re very excited to have the funds to allow us to continue to aggressively prove up this discovery while we await delivery of our maiden resource estimate.”
Blackrock Silver is focused on low-sulphidation epithermal gold and silver projects in Nevada.
Blackrock Silver (BRC) closed down by 3.49 per cent trading at $0.83 per share.