- Blackrock Silver Corp. (BRC) has announced a private placement for maximum gross proceeds of $7,918,000
- Under the offering, the company will issue up to 21,400,000 units at a price of $0.37 per unit
- Blackrock Silver Corp. is a junior precious metal-focused exploration company driven to add shareholder value via the drill bit
- Blackrock Silver Corp. (BRC) opened trading at $0.41 per share
Blackrock Silver Corp. (BRC) has announced its intention to embark on a private placement for maximum gross proceeds of up to $7,918,000.
As a result, the company has signed 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.
The company will issue between 10,900,000 and 21,400,000 units at a price of $0.37 per unit. Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.50 for three years from the closing date of the offering.
Proceeds raised will be used to fund the US$700,000 option payment due on April 2, 2023, a US$500,000 lease payment due on October 27, 2023, exploration of the company’s portfolio of silver and gold projects in Nevada and for working capital.
The offering is expected to close on or about March 14, 2023.
Company insiders are expected to acquire units under the offering.
Blackrock Silver Corp. is a junior precious metal-focused exploration company driven to add shareholder value via the drill bit.
Blackrock Silver Corp. (BRC) opened trading at $0.41 per share.
