Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) announced on September 14, 2026 that it has received conditional approval to graduate its common shares to the Toronto Stock Exchange, while simultaneously establishing an at-the-market equity distribution program of up to C$50 million. The TSX listing represents a significant exchange upgrade from the TSX Venture Exchange, where the company's shares are currently traded. Investors may be watching the timing of final TSX approval and any subsequent use of the ATM facility as the company advances its Tonopah West silver project in Nevada.

Key Points

  • Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) announced conditional TSX listing approval and a new ATM program
  • The company received conditional approval to list on the TSX and will delist from the TSX Venture Exchange upon final approval
  • The ATM program allows up to C$50 million in common share issuances at prevailing market prices, effective until September 18, 2027
  • Investors will be watching for final TSX listing confirmation and any drawdowns under the ATM facility

Blackrock Silver's Graduation from TSX-V to Senior Exchange

The conditional TSX listing approval marks a notable step for Blackrock Silver, which would move from the TSX Venture Exchange to Canada's senior exchange upon satisfying customary final conditions. The company confirmed that shareholders will not need to exchange share certificates or take any action in connection with the transition, as the CUSIP number for the common shares will remain unchanged. Blackrock will continue trading under the symbol "BRC." The company stated it will issue a further press release confirming the expected commencement date of TSX trading once final approval is received.

Terms and Structure of the C$50 Million ATM Facility

The ATM program, established under an equity distribution agreement dated September 14, 2026, permits Blackrock to issue and sell common shares at its discretion at prevailing market prices, with aggregate sale proceeds of up to C$50 million. Research Capital Corporation acts as lead agent alongside BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc., and Raymond James Ltd. Agents will receive a cash commission equal to 2.5% of gross proceeds from any sales. The company cautioned that total gross proceeds could be significantly less than C$50 million, as sales will occur only at its discretion.

Intended Use of ATM Proceeds and Tonopah West Advancement

Blackrock stated that any net proceeds from the ATM, if utilised, are expected to fund exploration and development of its Tonopah West mineral property in Nevada, as well as working capital and general corporate purposes. The release states the company is already funded to complete a 17,000-metre drill program and to advance permitting for an initial underground decline planned for 2027. Management described the ATM as providing financial optionality rather than addressing an immediate funding requirement, with no obligation to draw on any portion of the facility.