Blende clarifies finders' warrants non-transferable

Executive Summary

• Blende Silver Corp. completed a non‑brokered private placement raising $1.1 million through the issuance of 10 million units at $0.11 per unit.
• Each unit consists of one common share and one half‑share purchase warrant; warrants are exercisable for three years at $0.15 per share, with an acceleration clause if the TSX‑V price reaches $0.25 for 10 consecutive days.
• Proceeds will be allocated to general working capital and further development of the Blende project in Yukon.

Key Details

• Units Issued: 10 million units @ C$0.11 per unit → gross proceeds $1.1 M.
• Unit Composition: 1 common share + ½ share purchase warrant.
• Warrant Terms:
• Exercise price: C$0.15 per share.
• Expiration: 3 years (Feb 19, 2029).
• Acceleration clause triggers if TSX‑V closing price ≥ C$0.25 for 10 consecutive trading days.
• Finder Warrants: Same terms as offering warrants but non‑transferable; 258,852 finder warrants issued.
• Finder Fees: 6 % of a portion of the placement → C$28,474.
• Insider Participation: $33,919 purchased by an insider (related‑party transaction) – exempt from MI 61‑101 valuation/approval thresholds (<25 % market cap).
• Holding Period: All securities subject to statutory four‑month‑and‑a‑day hold period.
• Regulatory: Placement pending final approval of the TSX Venture Exchange.
• Use of Proceeds: General working capital and advancement of the Blende silver‑zinc‑lead project in north‑central Yukon.

Notable Quotes

(No direct quotes provided in the release.)