Blende Silver Corp. Private Placement Closes
Vancouver, July 28, 2021 - Blende Silver Corp. (the "Company") (TSXV:BAG) The Private Placement first announced on May 25, 2021 has closed raising total gross proceeds of $960,500. The first tranche closed on June 25, 2021 for 8,805,000 units raising gross proceeds of $880,500. The second and final tranche closed today for 800,000 units raising gross proceeds of $80,000. The private placement units ("Unit") are priced at $0.10 per Unit. Each Unit is comprised of one common share and one full share purchase warrant ("Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.20 per share for a period of 36 months from the dates of closing. Finder's fees total $59,885 and 598,850 finder's warrants all from the first tranche. Finder's Warrants are exercisable to purchase one common share of the Company at a price of $0.20 per share expiring 36 months from the dates of closing. The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period.
The proceeds from the private placement will be used to advance the Blende property and for general working capital.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Blende Silver Corp.
Blende Silver Corp. is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at the company's flagship Blende Deposit in north-central Yukon. The 100% owned property is the largest carbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largest undeveloped Ag-Zn-Pb deposits in Western Canada. It is winter-road accessible, 5,345 ha and situated 63 km northeast of Keno Hill, Yukon. The property has had more than $9.2M in past exploration ($5.2M by Blende Silver); including 25,195 meters of drilling in 132 drillholes.
For further information please contact:
"Andrew H. Rees"
Andrew H. Rees, Director
Tel: 604-505-3739
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Blende Silver Corp. which may cause actual results, performance or achievements of Blende Silver Corp. to be materially different from the results, performance or expectation implied by these forward-looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.