Business
Blackrock Gold Announces Upsize of its Previously Announced Bought Deal Public Offering to C$9.0 Million
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2021) - Blackrock Gold Corp. (TSXV:...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Gold Announces Upsize of its Previously Announced Bought Deal Public Offering to C$9.0 MillionVancouver, British Columbia--(Newsfile Corp. - January 29, 2021) - Blackrock Gold Corp. (TSXV: BRC) (\"Blackrock\" or the \"Company\") is pleased to announce that due to significant demand, the Company has increased the gross proceeds of the previously announced bought-deal public offering (the \"Offering\") from C$7,020,000 to C$9,000,000. Under the revised Offering, the Underwriters have agreed to purchase for resale 12,500,000 units of the Company (the \"Units\") at a price of C$0.72 per Unit (the \"Unit Price\") on a \"bought deal\" basis. Each Unit shall be comprised of one common share in the capital of the Company (each a \"Common Share\") and one half of one Common Share purchase warrant (each a \"Warrant\"). Each whole Warrant shall be exercisable into one Common Share at a price of C$1.10 at any time on or before the date which is 36 months after the closing date of the Offering. The revised Offering is being led by Red Cloud Securities Inc. as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the \"Underwriters\").As part of the revised agreement, the Company has granted the Underwriters an option, to cover over-allotments and for market stabilization purposes, to purchase up to 1,875,000 additional Units at the Unit Price to raise additional gross proceeds of up to C$1,350,000 (the \"Over-Allotment Option\"). The Over-Allotment Option will be exercisable in whole or in part, at any time for a period of 30 days from and including the closing date of the Offering. In the event that the over-allotment option is exercised in full, the aggregate gross proceeds of the revised Offering will be C$10,350,000. The Units will be offered and sold by way of a short form prospectus to be filed in all of the provinces of Canada, with the exception of Quebec, and will be offered and sold elsewhere outside of Canada on a private placement basis. The net proceeds raised from the Offering will be used to fund the exploration of the Company's Tonopah West and Silver Cloud properties in Nevada and for working capital and general corporate purposes. The Offering is scheduled to close on or about February 19, 2021 and is subject to certain conditions, including, but not limited to, the receipt o...