(TheNewswire)
NOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. WIRE SERVICES
August 5, 2022 – TheNewswire - Vancouver, BC – Blende SilverCorp. (the “Company”) (TSXV:BAG) announces the non-brokered private placementannounced April 26, 2022 is closed. As announced on June 8, 2022,gross proceeds of $278,000 was raised by the issuance of 5,560,000units (“Unit”) at a price of $0.05 per Unit. Each Unit iscompri sed of one common share and onefull share purchase warrant (a “Warrant”).Each Warrant is exercisable to purchase one common share of theCompany at a price of $0.1 0 per share expiringon June 9, 2026. Commissions of $13,600 and 272,000 finders warrantsexercisable to purchase one common share of the Company at a price of$0.1 0 per share expiring on June 9, 2026 wereissued in connection with this tranche.
There was Insiders participation of $100,000 in theprivate placement. Thus t he placementconstitutes a “related party transaction” within the meaning ofTSX Venture Exchange Policy 5.9 and Multilateral Instrument 61?101? Protectionof Minority Security Holders in SpecialTransactions (“MI 61?101”)adopted in the Policy. The Company willrely on exemptions from the formal valuation andminority shareholder approval requirements of MI 61?101 containedin sections 5.5(a) and 5.7(1)(a) of MI 61?101 in respect ofrelated party participation in the placement as neither the fairmarket 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 related parties, will exceed 25% of the Company’s marketcapitalization (as determined under MI 61-101).
Proceeds from the private placement will be used toadvance the Blende property and for general working capital.
The private placement is subject to TSX VentureExchange approval and all securities are subject to a four month holdperiod in accordance with the policies of the TSX Venture Exchange.
About Blende Silver Corp.
Blende Silver Corp. is a Vancouver-based juniorresource company focused on silver-zinc-lead exploration anddevelopment at the company’s flagship Blende Deposit innorth-central Yukon. The 100% owned property is the largestcarbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largestundeveloped Ag-Zn-Pb deposits in Western Canada. It is winter-roadaccessible, 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 byBlende Silver); including 25,195 meters of drilling in 132drillholes.
For further information please contact:
Blende Silver Corp.
“Andrew H. Rees”
Andrew H. Rees, Director
Tel: 604-505-3739
This press release does not constitute or form a partof any offer or solicitation to purchase or subscribe for securitiesin the United States. The securities referred to herein have not beenand will not be registered under the Securities Act of 1933, asamended (the “Securities Act”), or with any securities regulatoryauthority of any state or other jurisdiction in the United States, andmay not be offered or sold, directly or indirectly, within the UnitedStates or to, or for the account or benefit of, U.S. persons, as suchterm is defined in Regulation S under the Securities Act(“Regulation S”), except pursuant to an exemption from or in atransaction not subject to the registration requirements of theSecurities Act.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. The TSX Venture Exchange has not reviewedthe content of this news release and therefore does not acceptresponsibility or liability for the adequacy or accuracy of thecontents of this news release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. WIRE SERVICES
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