Blackrock Gold Corp (CVE:BRC) (OTCQB:BKRRF) said Thursday that it is uplisting to the OTCQB Venture Market to facilitate greater US trading and liquidity.
The Vancouver-based exploration company has a portfolio of precious metal assets in the prolific Northern Nevada Rift as well as the Walker Lane trend in western Nevada.
In a statement, Blackrock said that the upgrade provides exemptions from US state securities that could help to increase liquidity and allow investment advisors to research and recommend Blackrock’s stock.
READ: Blackrock Gold closes $7.5 million financing with $5 million contribution from mining magnate Eric Sprott
"With gold eclipsing all-time highs, and assays pending at our flagship Tonopah West project, there could not be a better time to see our listing upgraded to the OTCQB Venture Market, broadening our reach, and making it easier for US-based retail and institutional investors alike to buy and sell our securities,” Blackrock CEO Andrew Pollard told shareholders in a statement.
“As a Nevada focused gold and silver exploration company, we want to make it as seamless as possible for investors within North America to join us on this journey. This enhanced listing will play a pivotal part in that process."
Blackrock shares will start trading on the OTCQB on August 6.
The company also hired Bello Capital Partners to assist with investor relations activities as part of a 12-month contract. Blackrock also granted Bello stock options to purchase 350,000 of the company’s shares priced at C$1.44 per share with a five-year term that vests in stages every three months.
In addition, Blackrock granted 2.21 million stock options priced at C$1.43 per share to directors, officers and consultants of the explorer. The options are good for a five-year term.
The firm also granted 362,000 restricted share units to directors and officers entitling the holder to one Blackrock share, or a cash payment equal to the equivalent for one share following the vesting period, which sees one-third of the units vest on each of the first, second and third anniversaries following the date of grant.
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