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Blende Silver Corp. — Capital/Financing Update 2020
Sep 4, 2020
46668_rns_2020-09-04_df57e251-84be-4f6b-a0eb-11dbe2fef61f.pdf
Capital/Financing Update
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FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1: Name and Address of Reporting Issuer Blind Creek Resources Ltd. (the “Company”) Suite 804 – 750 West Pender Street Vancouver BC V6C 2T7
Item 2: Date of Material Change August 31, 2020
Item 3: News Release A news release was issued and disseminated on August 31, 2020 through Baystreet and Stockwatch and filed on SEDAR (www.sedar.com).
Item 4: Summary of Material Changes Private placement closed raising gross proceeds of $740,000 by issuing 14,800,000 units a price of $0.05. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each whole Warrant is exercisable at a price of $0.10 per share for a period of one year.
Item 5: Full Description of Material Change Blind Creek Resources Ltd. announces it has closed a non-brokered private placement raising gross proceeds of $740,000. 14,800,000 units (“Unit”) have been issued at a price of $0.05 per each Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (“Warrant”). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.10 per share for a period of one year from closing of the financing.
All securities are subject to a four month hold period. Finder’s fees payable in connection with the private placement total $14,700 and 294,000 finder’s warrants. Finder’s warrants are exercisable at a price of $0.10 into one common share for a period of one year from closing of the financing, all in accordance with the policies of the TSX Venture Exchange. The proceeds from the private placement will be used for general working capital and project advancement.
A director, officer and existing control person of the Company purchased a total of 3,600,000 Units of the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61-101).
Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 Not applicable.
Item 7: Omitted Information None.
Item 8: Executive Officer For further information, please contact: Thomas Kennedy: (604) 682-2928 Email: [email protected]
Item 9: Date of Report September 5, 2020