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Blackrock Announces C$7.5 Million Private Placement, Led by a C$5.0 Million Investment from Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2020) - Blackrock Gold Corp. (TSXV: BR...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Announces C$7.5 Million Private Placement, Led by a C$5.0 Million Investment from Eric SprottVancouver, British Columbia--(Newsfile Corp. - July 22, 2020) - Blackrock Gold Corp. (TSXV: BRC) (the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") of 10,416,667 units (the \"Units\") at a price of C$0.72 per Unit for gross proceeds of C$7,500,000.24. The Company is pleased to advise that Eric Sprott has agreed to purchase C$5 million of the Offering. Each Unit will be comprised of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of C$1.00 for a period of two years from the date the Units are issued. The Offering is scheduled to close on or about July 31, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from the closing. The net proceeds of the Offering will be used by the Company to fund an expanded exploration program on the Company's Tonopah West property, and for general working capital.The Company will pay a finder's fee on the Offering of 6% in cash and finder's warrants equal to 6% of Units placed by the finder, each finder's warrant exercisable for one common share for a 2 year term at a price of $1.00.The securities described herein 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 accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. 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-sulphidation epithermal gold & silver projects located along on the establishe...