Business
Blende Silver Corp. Private Placement Tranche One Closes
(TheNewswire) Vancouver, BC – TheNewswire – June 8, 2022 - ...
About this update from Blende Silver Corp.
[{"type":"text","content":"Blende Silver Corp. Private Placement Tranche One Closes\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire – June 8, 2022 -\n \n \n Blende Silver\nCorp.\n \n \n (the “Company”) (TSXV:BAG)\n \n \n announces it has closed tranche one of a\nnon-brokered private placement announced April 26, 2022.  Gross\nproceeds of $278,000 has been raised by the issuance of 5,560,000\nunits (“Unit”) at a price of $0.05 per Unit. Each Unit is\ncompri\n \n \n sed of one common share and one\nfull\n \n \n share purchase warrant (a “Warrant”).\nEach Warrant is exercisable to purchase one common share of the\nCompany at a price of $0.1\n \n 0\n \n per share expiring\non June 9, 2026.  Commissions of $13,600 and 272,000 finders warrants\nexercisable to purchase one common share of the Company at a price of\n$0.1\n \n 0\n \n per share expiring on June 9, 2026 were\nissued in connection with this tranche.\n \n \n \n \n There was Insiders participation of $100,000 in the\nprivate placement. Thus t\n \n \n he placement\nconstitutes a “related party transaction” within the meaning of\nTSX Venture Exchange Policy 5.9 and Multilateral Instrument 61‑101\n‑\n \n \n \n Protection\nof Minority Security Holders in Special\nTransactions\n \n \n \n (“MI 61‑101”)\nadopted in the Policy.  The Company\n \n \n will\nrely\n \n \n on exemptions from the formal valuation and\nminority shareholder approval requirements of MI 61‑101 contained\nin sections 5.5(a) and 5.7(1)(a) of MI 61‑101 in respect of\nrelated party participation in the placement as neither the fair\nmarket value (as determined under MI 61-101) of the subject matter of,\nnor the fair market value of the consideration for, the transaction,\ninsofar as it involved the related parties,\n \n \n will\n \n \n exceed 25% of the Company’s market\ncapitalization (as determined under MI 61-101).\n \n \n \n \n \n \n \n \n Proceeds from the private placement will be used to\nadvance the Blende property and for general working capital.\n \n \n \n \n The private placement is subject to TSX Venture\nExchange approval and all securities are subject to a four month hold\nperiod in accordance with the policies of the TSX Ve...