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Blackrock Announces Equity Investment from First Majestic Silver Corp. as Part of C$2.0 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Blackrock Silver Corp. (TSXV: B...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Announces Equity Investment from First Majestic Silver Corp. as Part of C$2.0 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") of 2,666,666 units (the \"Units\") at a price of C$0.75 per Unit for gross proceeds of C$2,000,000 to be conducted concurrently on the same terms and conditions as the bought deal private placement announced May 17, 2021. The Company is pleased to advise that First Majestic Silver Corp. has agreed to purchase C$1.25 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$1.15 for a period of two years from the date the Units are issued. Andrew Pollard, President and CEO, commented, \"This strategic investment by First Majestic represents a validation of the potential at our Tonopah West silver-gold project in Nevada. With First Majestic's recent entry into Nevada through their acquisition of the Jerritt Canyon mine and their deep technical bench-strength, they represent an ideal strategic investor as we continue on our path towards delivering our maiden resource estimate. As the footprint of known mineralization continues to expand via the drillbit, both along strike and through the discovery of new veins, this additional funding will allow us to scale up our exploration program.\"The Offering is scheduled to close on or about June 8, 2021, 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 for exploration of the Company's portfolio of gold and silver projects in Nevada and for general working capital purposes.The Company will pay a finder's fee on the Offering of 6% in cash and finder's warrants equal to 3% of Units placed by the finder, each finder's warrant exercisable for one common share for a two-year term at a price of $0.75.The securities described herein have no...