Blackrock Gold (TSXV: BRC) is the latest firm to announce a financing this morning. The company revealed it has engaged Red Cloud Securities to act as lead underwriter for a $7.0 million bought deal financing.
The financing will see a total of 9.8 million units of the company sold at a price of $0.72 per unit. Each unit is to contain one common share and one half of a common share purchase warrant. Each warrant is valid for a period of 3 years from the date of closing, and contains an exercise price of $1.10 per common share.
An over-allotment option has also been granted under the financing, for additional gross proceeds of up to $1.1 million.
Proceeds from the financing are to be used for the further exploration of the firms Tonopah West and Silver Cloud properties, as well as for working capital and general corporate purposes.
The financing is expected to close February 19, 2021.
Blackrock Gold Corp last traded at $0.72 on the TSX Venture.
Information for this briefing was found via Sedar and Blackrock Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
