Blende Silver arranges $1.1-million private placement

Executive Summary

• Blende Silver Corp. announced a non-brokered private placement offering up to 10 million units at $0.11 per unit, targeting gross proceeds of up to $1.1 million.
• Each unit comprises one common share and one-half share purchase warrant, exercisable at $0.15 per share for a three-year term.
• Proceeds will be allocated to general working capital and the development of the company's Blende project in Yukon.

Key Details

• Structure & Pricing: Non-brokered private placement of up to 10,000,000 units at $0.11 per unit.
• Gross Proceeds: Up to $1,100,000.
• Unit Composition: Each unit includes one common share and one-half (0.5) share purchase warrant.
• Warrant Terms: Whole warrants are exercisable at $0.15 per share for a period of three years from the closing date.
• Acceleration Clause: If the common shares close at $0.25 or more per share for 10 consecutive trading days on the TSX Venture Exchange, the company may issue a news release accelerating warrant expiry to 30 days from the release date (expiring at 4 p.m. Pacific Time on the final day).
• Use of Proceeds: General working capital and the Blende project in Yukon.
• Hold Period: All issued securities are subject to a statutory four-month-and-one-day hold period.
• Finders' Fees: May be paid to finders involved in the placement.