First Majestic takes foothold in Blackrock Silver
First Majestic's Jerrit Canyon mine in northern Nevada. (
First Majestic Silver (TSX: FRI; NYSE: AG) is investing $1.3 million in
Blackrock Silver (TSXV: BRC; US-OTC: BKRRF), which has a portfolio of gold and silver properties in Nevada.
First Majestic, which recently acquired the Jerritt Canyon gold mine in Nevada from Sprott Mining and has three producing silver mines in Mexico, is taking up just over half of Blackrock Silver’s $2 million non-brokered private placement of 2.7 million units at 75¢, with each unit consisting of one common share and one-half of one share purchase warrant, exercisable for a two-year period at a price of $1.15.