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Blackrock Gold closes C$600,000 financing for Silver Cloud exploration

The junior exploration company said in a statement Monday that it has closed a non-brokered private placement of 6 million units at a price of $0.10 for gross proceeds of $600,000

$100 canadian
The majority of the proceeds will be used to fund exploration at Silver Cloud

Blackrock Gold Corporation (CVE:BRC) announced Monday that it raised C$600,000 to help fund exploration at the Silver Cloud project in Nevada.

The junior exploration company said in a statement Monday that it has closed a non-brokered private placement of a maximum of 6 million units at a price of $0.10 for gross proceeds of $600,000.

Each unit consists of one share and one half of one warrant, which is exercisable at $0.16 for a three-year period from the date of issuance.

READ: Blackrock Gold to raise $600,000 for Silver Cloud exploration

The majority of the proceeds will be used to fund exploration at Silver Cloud, with a small portion dedicated to general working capital.

Blackrock’s flagship Silver Cloud project is a 4,500-hectare property on the convergence of the Carlin Trend and Northern Nevada Rift, one of the richest gold mining areas in North America.

Andrew Pollard, Blackrock’s CEO, acquired an aggregate of 1 million units, the company informed investors.

Shares of Blackrock were at C$0.11 on Monday afternoon in Toronto.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Blackrock Gold Corp

Price: 0.23 CAD

TSX-V:BRC
Market: TSX-V
Market Cap: $14.41 m
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BLACKROCK GOLD active with first drill programme at Silver Cloud in 15 years

BLACKROCK GOLD (CVE:BRC) CEO Andrew Pollard speaks to Proactive's Andrew Scott at Mines and Money London 2019. The company's currently undertaking the first drill programme at the Silver Cloud project in Nevada for 15 year. High grade intercepts of up to 158g/t gold have been seen...

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