Blackrock Gold Corp. announced a private placement on a bought deal basis for 10,666,667 units at a price of CAD 0.75 per unit for gross proceeds of CAD 8,000,000 on May 17, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant.

Each warrant will entitle the holder to purchase a common share at a price of CAD 1.15 per share for a period of 24 months from the date of issue. The transaction will include participation from directors, officers and other insiders of the company. The company has granted the underwriters an over-allotment option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to 2,666,667 additional units at the unit price to raise additional gross proceeds of up to CAD 2,000,000.

The transaction is expected to close on or about June 8, 2021 and is subject to receipt of all necessary regulatory and other approvals, including the listing of the unit shares and warrant shares on the TSX Venture Exchange. All securities issued are subject to a hold period of four months and one day from the date of closing.