Blende Silver Corp Closes Non-Brokered Private Placement Tranche Raising Gross Proceeds of $765,000
Vancouver, December 29, 2021 - Blende Silver Corp. (the "Company") (TSXV: BAG) announces it has closed the first tranche of a non-brokered private placement announced November 19, 2021 raising gross proceeds of $765,000. 6,000,000 Flow-through units ("Unit") have been issued at a price of $0.10 per each Unit and 2,062,500 Non Flow-Through units have been issued at a price 0.08 per each 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 48 months from closing of the financing expiring December 30, 2025. All securities are subject to a four month hold period. Finder's fees payable in connection with this tranche total $52,430 and 550,375 finder's warrants. Finder's Warrants are exercisable to purchase one common share of the Company at a price of $0.20 per share expiring December 30, 2025. The private placement is subject to TSX Venture Exchange approval.
The proceeds from the private placement will be used to advance the Blende property and for general working capital.
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.
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