Blackrock Silver Receives Conditional Approval to List on TSX
News related to:Blackrock Silver Corp · 2 min read
Blackrock Silver Corp. has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX), marking a significant step in the company's growth and positioning as a more attractive investment for institutional investors. The approval, subject to the company meeting certain customary conditions, paves the way for the delisting of its shares from the TSX Venture Exchange (TSX-V) once final listing requirements are completed.
In conjunction with this move, Blackrock Silver has also established an at-the-market (ATM) equity distribution program, which will provide the company with additional financial flexibility. The ATM facility allows Blackrock to issue and sell up to C$50 million worth of common shares at its discretion, without the need for a discount or the issuance of warrants. The program is managed by Research Capital Corporation, acting as lead agent, along with other financial institutions.
Andrew Pollard, President and Chief Executive Officer of Blackrock Silver, commented on the significance of the TSX listing.
The company currently has sufficient funding to complete its 17,000-meter drill program and to advance the permitting required for an initial underground decline in 2027. The ATM facility adds further optionality, providing the company with the ability to raise capital at its discretion without the need for a discount or the issuance of warrants.
The ATM program is effective until the earlier of the issuance and sale of all of the common shares issuable under the program or September 18, 2027, unless terminated earlier by the company or the agents. The offering under the ATM is qualified by a prospectus supplement to the company's final short form base shelf prospectus, which was filed on August 18, 2025.
Blackrock Silver is an American-focused emerging primary silver developer, systematically advancing the high-grade Tonopah West project in west-central Nevada. The company is focused on unlocking the value of one of the highest-grade undeveloped silver projects in the industry and delivering a secure, domestic source of a metal critical to the U.S. energy and defense supply chains.
The company expects to use the net proceeds from the ATM, if any, for exploration and development of the Tonopah West mineral property, working capital, and general corporate purposes. The ATM will be managed by Research Capital Corporation, acting as lead agent, along with other financial institutions.
The TSX listing and the establishment of the ATM program are significant milestones for Blackrock Silver, reflecting the company's commitment to growth and financial flexibility. The company remains well-funded to advance its projects and meet its strategic objectives.