Non-Brokered Private Placement Closed Raising Total Gross Proceeds of $801,000
Vancouver, January 17, 2022 - Blende Silver Corp. (the "Company") (TSXV:BAG) The Private Placement first announced on November 19, 2021 has closed a second tranche. Total gross proceeds raised are $801,000. The first tranche closed on December 28, 2021 for 8,062,500 units raising gross proceeds of $765,000. The second and final tranche closed January 14, 2022 for 450,000 units raising gross proceeds of $36,000. A Total of 6,000,000 Flow-through units ("Unit") have been issued at a price of $0.10 per each Unit and 2,512,500 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 and January 15, 2026 respectively. All securities are subject to a four month hold period. Finder's fees payable in connection with the private placement 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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