Blackrock Gold Corp (CVE:BRC) announced Monday it has cancelled its previously-announced private placement.
In a statement, the junior exploration company said its board has decided not to proceed at this time with the proposed financing and exploring options surrounding its Silver Cloud project, in Nevada.
The company also noted Deepak Malhotra has stepped down as a director of the company.
Blackrock Gold aims to acquire large-scale land packages that are in prolific gold belts in stable jurisdictions.
Shares of Blackrock Gold were at C$0.03 on Monday.
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