The private placement is for 10,416,667 units at CA$0.72 per unit for gross proceeds of about CA$7.5 million. Each unit consists of one common share and one-half of a single-share purchase warrant. With each whole warrant, the holder may acquire, for two years from the unit issue date, one additional common Blackrock Gold share for CA$1.
Sprott agreed to buy CA$5 million of the private placement.
The financing is expected to close on July 31, 2020. Blackrock Gold will use the funds for expanding the exploration program at its Tonopah West project and for general working capital.[NLINSERT]
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