BLACKROCK SILVER CLOSES C$15 MILLION PRIVATE PLACEMENT LED BY A C$7 MILLION INVESTMENT FROM ERIC SPROTT
January 8, 2026
VANCOUVER, BRITISH COLUMBIA, CANADA (Newsfile Corp.– January 8, 2026) – Blackrock Silver Corp. (TSX-V: BRC) (OTCQX: BKRRF) (FSE: AHZ0) (“Blackrock” or the “Company”) is pleased to announce the completion of its non-brokered private placement (the “Offering”) previously announced on December 24, 2025. 2176423 Ontario Ltd., a company beneficially owned by Eric Sprott, purchased an aggregate of C$6,999,960 of the Offering. The Offering consisted of a total of 13,636,300 units of the Company (the “Units”) at a price of C$1.10 per Unit for gross proceeds of C$14,999,930. Each Unit consisted of one common share of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 per Common Share until January 8, 2028.
Andrew Pollard, Blackrock’s President and Chief Executive Officer, commented: “Supported by Eric Sprott and a new cornerstone investor, this $15 million financing meaningfully strengthens our balance sheet as we advance Tonopah West toward development. As an emerging American silver developer, we are accelerating permitting and de-risking initiatives in 2026 to support the advancement of a secure, high-quality domestic source of silver for the U.S. market.”
The net proceeds of the Offering are intended to be used by the Company to fund exploration, permitting and pre-development activities on the Company’s Tonopah West project and for general working capital.
In connection with the closing of the Offering, the Company paid Research Capital Corporation (the “Finder”) finder’s fees in cash totalling C$689,997 and issued to the Finder a total of 627,270 non-transferable finder’s warrants (“Finder’s Warrants”) in connection with the Units placed by the Finder. Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$1.50 until January 8, 2028.
The participation of Eric Sprott in the Offering constituted a “related party transaction”, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the interested parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).
The Common Shares, Warrants and Finder’s Warrants issued in connection with the Private Placement and the Common Shares issuable upon exercise of the Warrants and Finder’s Warrants are subject to a hold period expiring on May 9, 2026.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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