Vancouver, British Columbia--(Newsfile Corp. - January 12, 2017) - Blackrock Gold Corp.
(TSXV: BRC) ("Blackrock" or the "Company") is pleased to announce the appointment of Mr. Michael O'Connor as CEO of Blackrock
effective January 12, 2017. The appointment was made as part of the Company's new strategy focusing on the acquisition of advanced
gold and silver projects. Mr. O'Connor brings over 29 years' experience in wealth management, investor relations, corporate
communications and corporate development and more recently held the position of President and CEO of a silver exploration company
for five years.
Mr. O'Connor commented: "I am both honored and very excited to be joining Blackrock at this important and transformative
time for the Company. In order to make Blackrock a successful gold and silver Company, our highly experienced board has implemented
a new strategy focused on the acquisition of quality advanced gold and silver projects that have near term production potential and
are located in mining friendly jurisdictions. I am confident that while working closely with the members of the Board of Directors,
all of whom are very experienced and well respected mining industry professionals, we can, as a team, deliver concrete results on
the Company's new goals and objectives."
The Company is also pleased to announce the appointment of Mr. Catalin Chiloflischi, CEO of Canarc Resource Corporation, to
the Board of Directors effective January 12, 2017. Mr. Chiloflischi is a professional economist with 20 years of experience in
business development, mergers and acquisitions, corporate finance, communications, governance and sustainability in Canada, US,
Europe and Asia. He has been instrumental in raising over CA$200 million in joint venture, equity and debt financings for
mineral resource projects since 2010.
Mr. Chiloflischi stated "I am pleased to join a broad team comprised of very skilled, experienced and successful mining
professionals. Because of the quality of people involved both at the board and management level, I see Blackrock as a unique
opportunity to help build a successful gold and silver company. While working together I believe we can realize Blackrock's new
vision to acquire and advance gold and silver projects towards production."
A total of 300,000 stock options for a term of five years at an exercise price of CAD $0.075 have been granted to management and
directors.
In order to finance its new strategy, the Company has amended the terms of its non-brokered private placement previously
announced on November 21, 2016 (the "Private Placement"). The amended number of units has been increased to up to 4,000,000
units (the "Units") at an amended price of $0.075 per Unit, for gross proceeds of up to $300,000. Each Unit is comprised of
one common share and one share purchase warrant.
Each whole warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of
$0.15 per share, for a period of two years from the date the Units are issued. If during the exercise period of the warrants, but
after the resale restrictions on the shares have expired, the Company's shares trade at or above a weighted average trading price
of $0.30 per share for 15 consecutive trading days, the Company may accelerate the expiry time of the warrants by giving written
notice to warrant holders that the warrants will expire 30 days from the date of providing such notice.
All other terms and conditions of the previously announced private placement remain the same. The Company plans to allocate the
gross proceeds of the Private Placement to general working capital. A portion of the Private Placement may be completed in
accordance with the exemption set out in BC Instrument 45-536 (Exemption from prospectus requirement for certain distributions
through an investment dealer) (the "Investment Dealer Exemption"). In accordance with the requirements of the Investment
Dealer Exemption, the Company confirms there is no material fact or material change related to the Company which has not been
generally disclosed. The Private Placement is subject to the approval of the Exchange.
The securities issued in the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933,
as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or
delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933
Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an
offer to sell or a solicitation to buy such securities in the United States.
The Company also wishes to announce that Mr. David Robinson has resigned as President, CEO and Director of Blackrock
effective January 12, 2017. The Company would like to thank Mr. Robinson for his contributions in establishing Blackrock and
wishes him every success in his future endeavours.
For further information, please contact:
Michael E. O'Connor
CEO
Blackrock Gold Corporation
Telephone 604-317-6197
Email m_oconnor@shaw.ca
The TSX Venture Exchange
has not reviewed and does not
accept responsibility
for the accuracy or
adequacy of this release.
Neither the TSX
Venture Exchange nor its
Regulation Service
Provider (as that term is
defined in the policies of the
TSX Venture Exchange)
accepts responsibility
for the adequacy or
accuracy of this
release.
This press release
contains
forward‑looking
statements. All
statements, other than
statements of
historical fact,
constitute "forward‑looking
statements" and include
any information that
addresses activities,
events or developments
that the Company believes,
expects or anticipates will
or may occur in the
future including
the Company's
strategy, plans or
future financial or
operating performance and
other statements that
express management's
expectations or
estimates of future
performance.
Forward‑looking
statements are generally
identifiable by the
use of the words
"may", "will",
"should", "continue",
"expect", "anticipate",
"estimate", "believe", "intend",
"plan" or "project" or
the negative of these
words or other
variations on these
words or comparable
terminology. These
statements, however,
are subject to known and
unknown risks,
uncertainties and other
factors that may
cause the actual
results, level of activity,
performance or
achievements of the
Company to be materially
different from those
expressed, implied by or
projected in the
forward‑looking
information or
statements. Important
factors that could
cause actual results to differ
from these
forward‑looking
statements include but are
not limited to the ability of the Company to attract financing and the general market
conditions of the industry in which the Company operates and the other factors
discussed in the
sections relating to
risk factors discussed in the Company's continuous disclosure
filings on SEDAR.
There can be no
assurance that any
forward‑looking
statements will prove to
be accurate, as actual
results and future
events could differ
materially from those
anticipated in such
statements.
Accordingly, the reader
should not place any undue
reliance on
forward‑looking
information or
statements. Except as
required by law, the
Company does not intend to
revise or update these
forward‑looking
statements after the date
of this document or to
revise them to reflect
the occurrence of
future unanticipated
events.
