Blackrock Silver Corp. Announces Financing Agreement
Blackrock Silver Corp. (TSXV: BRC) has announced a financing agreement with Red Cloud Securities Inc. These underwriters will purchase 15 million units at C$0.20 each, aiming for gross proceeds of C$3 million. Each unit includes a common share and purchase warrant, allowing further common share acquisition at C$0.30 within 36 months post-closing.
Utilization of the Financing Proceeds
The net proceeds will aid the final payment for the flagship Tonopah West project in Nevada, resulting in 100% ownership. Additionally, funds will support metallurgical characterization, engineering evaluation, hydrological assessment and general corporate purposes. The unit sales leverage prospectus supplements across Canadian provinces excluding Québec and may extend to the U.S. and other regions, all subject to regulatory approvals.
Company Portfolio and Growth Outlook
Blackrock Silver Corp., with significant silver and gold resources at Tonopah West and a gold discovery at Silver Cloud, is poised for progress. Their diverse Nevada portfolio showcases potential for further low-sulphidation, epithermal gold and silver mineralization discoveries.
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.
The image is randomly selected and doesn’t necessarily represent the company or the news below.