Blackrock Silver Raises Financing to $12 Million Amid Demand

Blackrock Silver Upsizes Financing to $12 Million

Blackrock Silver Corp. is thrilled to announce an increase in its previously announced bought deal financing due to significant investor interest. The company, known for its robust precious metal exploration efforts, now aims to raise $12 million through its offerings.

Details of the Financing Deal

The financing, initially set at $10 million, has been led by Raymond James Ltd. as the sole bookrunner. Alongside Raymond James, a syndicate of underwriters has joined the effort, showing a strong commitment to this venture. The underwriters will acquire 33,334,000 units from Blackrock Silver at a set price of $0.36 per unit, resulting in total gross proceeds amounting to $12 million. Each unit consists of one common share and half a common share purchase warrant.

Warrant Details

Each full warrant offers an option to purchase one additional common share at a price of $0.50 for two years following the closing date. This setup not only incentivizes investor participation but also positions Blackrock Silver for enhanced capital growth with market performance.

Over-Allotment Option

Included in the offering is an over-allotment option, granting the underwriters the ability to purchase additional units, common shares, and warrants. This option is aimed at covering any over-allotments and facilitating market stabilization. It can be exercised for 30 days post-closing, reflecting the strong potential demand from investors.

Use of Proceeds from the Offering

The capital raised from this financing initiative is earmarked for advancing the exploration and development projects at the Tonopah West mineral site, which is central to Blackrock's growth strategy. Additionally, a portion of these funds will support working capital needs and general corporate purposes, ensuring the company is financially equipped for ongoing and future projects.

Company Overview

Blackrock Silver Corp. is a prominent player in the precious metals sector with a dedicated focus on exploration and development. It maintains a diverse portfolio of properties in Nevada, rich in both gold and silver. The company is driven to create shareholder value through rigorous exploration backed by its team of experienced professionals.

Exploration and Development Projects

With a wholly-owned portfolio in Nevada characterized by low-sulphidation, epithermal gold, and silver mineralizations, Blackrock is strategically positioned along the Northern Nevada Rift and the Walker Lane trend. This geographical advantage offers substantial opportunities for discovering high-grade mineral deposits.

Investor Resources and Company Communication

Blackrock Silver is committed to transparent communication with its investors. The offering documents pertinent to this financing can be accessed on SEDAR+, providing vital insights into the structure and specifics of the offering. This includes the crucial Prospectus Supplement and the Base Shelf Prospectus.

Conclusion

Blackrock's recent upsizing of its financing reflects not only investor confidence in the company but also the promising potential within the precious metals industry. The capital raised will bolster its operational capabilities, underpinning the company’s strategic endeavors moving forward.

Frequently Asked Questions

What is the total amount of the financing raised by Blackrock Silver?

The total amount raised through this financing initiative is $12 million.

Who are the underwriters involved in this financing?

Raymond James Ltd. is the lead underwriter, supported by a syndicate that includes Red Cloud Securities Inc., Research Capital Corporation, and Ventum Financial Corp.

What will the proceeds from the financing be used for?

The proceeds are designated for exploration and development at the Tonopah West mineral project, working capital, and general corporate purposes.

How long is the over-allotment option available?

The over-allotment option is exercisable for 30 days following the closing date of the offering.

Where can investors find more information about Blackrock Silver Corp.?

Investors can visit the official Blackrock Silver website or access their profile on SEDAR+ for additional information and updates.

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