On March 17, 2023, Blackrock Silver Corp. closed the transaction. The company amended the deal terms and issued 11,851,800 units at a price of CAD 0.37 per unit for the aggregate gross proceeds of up to CAD 4,385,166.

The transaction is subject to the approval of the TSXV. The company paid a cash commission of CAD 263,110 and issued 711,108 finders’ warrants. Each finder’s warrant entitles the holder thereof to acquire one common share at a price equal to CAD 0.50 until March 17, 2026.

The finders’ warrants and underlying common shares are subject to a four-month hold period ending on July 18, 2023.