Blackrock Silver Closes $4.38 Million Brokered Private Placement

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[{"type":"text","content":"Blackrock Silver Closes $4.38 Million Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 17, 2023) - Blackrock Silver Corp. (TSXV: BRC) (the \"Company\" or \"Blackrock\") is pleased to announce that the Company has closed its previously announced brokered private placement offering (the \"Offering\") (see March 3, 2023 news release) for aggregate gross proceeds of C$4,385,166 consisting of 11,851,800 units of the Company (\"Units\") at a price of $0.37 per Unit (the \"Offering Price\"). Each Unit is comprised of one common share of the Company (\"Common Share\") and one-half of one (1/2) Common Share purchase warrant (\"Warrant\") of the Company. Each whole Warrant entitles the holder thereof to acquire one Common Share at a price of $0.50 per Common Share until March 17, 2026. All of the Units offered in the Offering were offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions and are not subject to resale restrictions in Canada under applicable Canadian securities laws, except where required by the TSX Venture Exchange (\"TSXV\") for the insiders noted below.The Offering was led by PI Financial Corp. and Red Cloud Securities Inc. as co-lead agents and joint bookrunners on behalf of a syndicate of agents including Canaccord Genuity Corp. and Research Capital Corporation (referred to collectively as the \"Agents\"). In connection with the Offering, the Company paid to the Agents a cash commission of $263,109.96 and issued to the Agents 711,108 Common Share purchase warrants (the \"Compensation Warrants\"). Each Compensation Warrant entitles the holder thereof to acquire one Common Share at a price per Common Share equal to the Offering Price until March 17, 2026. The Compensation Warrants and underlying Common Shares are subject to a four-month hold period ending on July 18, 2023. The net proceeds raised from Offering will be used by the Company: (i) to fund the US$700,000 option payment due on April 2, 2023, in respect of the Company's Tonopah West project; (ii) to fund the US$500,000 lease payment due on October 27, 2023, in respect of the Company's Silver Cloud project; (iii) for exploration of the Company's portfolio of silver and gold projects in Nevada; and (iv) for working capital and general corporate purposes....

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