Blackrock Silver Closes $10 Million Bought Deal Private Placement; Over-Allotment Option Exercised in Full

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[{"type":"text","content":"Blackrock Silver Closes $10 Million Bought Deal Private Placement; Over-Allotment Option Exercised in FullVancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the \"Company\") is pleased to announce the completion of its previously announced bought deal private placement offering, whereby the Company issued a total of 13,333,334 units of the Company (\"Units\") at a price of $0.75 per Unit (the \"Unit Price\") for gross proceeds of $10,000,001 (the \"Bought Deal Private Placement\"). Each Unit consisted of one common share of the Company (\"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $1.15 per Common Share until June 8, 2023. The completed Bought Deal Private Placement includes exercise in full of the Underwriters' (as defined below) over-allotment option to purchase an additional 2,666,667 Units at the Unit Price.The Bought Deal Private Placement was led by Red Cloud Securities Inc. (\"Red Cloud\"), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, together with Canaccord Genuity Corp. (collectively, the \"Underwriters\"). The Company paid total cash commissions to the Underwriters of approximately $560,000 and issued 386,666 broker warrants (\"Broker Warrants\"). Each Broker Warrant is exercisable to acquire one Common Share at the Unit Price until June 8, 2023.The Bought Deal Private Placement included an investment from Crescat Capital. \"Blackrock Silver's strategy to explore deeper extensions of the high-grade vein system at Tonopah has already proven to be a wild success,\" commented Quinton Hennigh, technical advisor to Crescat Capital. \"Today, our understanding of low sulfidation epithermal vein deposits tells us that these can extend quite deep, and in fact, can prove to be better grade as the system approaches underlying feeder structures that fed precious metal rich fluids to structures above. This was the case at the famous Comstock lode at nearby Virginia City. It would be a delight to see Blackrock's exploration at Tonopah reveal a deposit similar to that.\" Andrew Pollard, President and CEO of Blackrock Silver, commented, \"With the closing of our financings the Company is well-capitalized thro...

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