Blackrock Silver Closes $2.0 Million Non-Brokered Private Placement; Investment by First Majestic Silver

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[{"type":"text","content":"Blackrock Silver Closes $2.0 Million Non-Brokered Private Placement; Investment by First Majestic SilverVancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the \"Company\") is pleased to announce that it has closed its previously announced non-brokered private placement private placement consisting of 2,666,667 units of the Company (the \"Units\") at a price of $0.75 per Unit (the \"Unit Price\"), for gross proceeds of $2,000,000 (the \"Non-Brokered Private Placement\"). As part of the Non-Brokered Private Placement, First Majestic Silver Corp. made an investment of $1.25 million and purchased 1,666,666 Units. The Non-Brokered Private Placement was conducted concurrently with a previously announced brokered private placement for total gross proceeds of $10,000,000 (the \"Brokered Private Placement\"), which was also completed today. The combined gross proceeds from the Non-Brokered Private Placement and Brokered Private Placement was $12.0 million.Each Unit is 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 whole warrant, a \"Warrant\"). Each Warrant shall be exercisable into one common share of the Company (each, a \"Warrant Share\") at a price of $1.15 at any time on or before 5:00 pm on June 8, 2023.The Company intends to use the net proceeds of the Non-Brokered Private Placement and Brokered Private Placement for exploration of the Company's portfolio of gold and silver projects in Nevada and for general working capital purposes. As part of the Non-Brokered Private Placement, the Company paid select finders total cash commissions of $120,000 and issued to the finders a total of 80,000 non-transferable finder's warrants of the Company (\"Finder's Warrants\"), with each Finder's Warrant exercisable for one Common Share at the Unit Price at any time on or before 5:00 pm on June 8, 2023.The Common Shares and Warrants issued under the Non-Brokered Private Placement, and the Common Shares issuable upon exercise of the Warrants and the Finder's Warrants are subject to a hold period that expires on October 9, 2021. The Non-Brokered Private Placement is subject to final approval of the TSX Venture Exchange.The securities offered have not been, and will not be, registered under the U.S. Securitie...

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