Each Unit will consist of one (1) common share (“Share”) and one-half (1/2) of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one (1) additional common share (a “Warrant Share”) at $0.80 per Warrant Share for a period of three years from the date of issuance.
The units will be offered in accordance with Part 5A of National Instrument 45-106 – Prospectus exemptionsas amended by Coordinated Overall Order 45-935, Exemptions from certain conditions of the listed issuer financing exemption, to purchasers resident in Canada (excluding the Province of Quebec) and in other qualifying jurisdictions outside Canada on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable law. The securities issued to Canadian subscribers in the Offering are not subject to a hold period in Canada.
The Company may pay finder’s fees in connection with the Offering as permitted by applicable securities laws and the rules of the TSX Venture Exchange.
There will be an offering document relating to the Offer (the “Offer document“) that can be accessed via the company profile at www.sedarplus.ca and on the Company’s website at www.silverone.com. Potential investors should read the offering document before making any investment decision.
The net proceeds from the Offering will be used for (i) the drilling program at the Candelaria Project; (ii) certain exploration and geophysics work on its mineral properties; (iii) metallurgical and environmental works at the Candelaria Project, (iv) preparing a pre-feasibility study on the Candelaria Project; (v) annual mineral claim payments to the Bureau of Land Management; and (vi) general working capital purposes.
The closing of the Offering may take place in one or more tranches as determined by the Company. Closing is expected within three weeks or such other date as the Company may determine and is subject to the approval of the TSX Venture Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the United States of America. The securities offered as part of the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws, and accordingly may not be offered or sold in the United States except in accordance with the registration requirements of the US Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.
About Silver
Silver One focuses on the exploration and development of high-quality silver projects. The company has a 100% interest in its flagship project, the past-producing Candelaria mine in Nevada. Potential reprocessing of silver from the historic Candelaria leach pads provides opportunities for potential near-term production. Additional opportunities lie in the previously identified high-grade silver intercepting the downdip and potentially increasing substantial silver mineralization during the strike of the two past producing open-pit mines.
The company has filed 636 lode claims and entered into a lease/purchase agreement to acquire five patented claims on its Cherokee project in Lincoln County, Nevada, which is home to multiple silver-copper-gold vein systems, which have been traced to date for more than 7 miles.
Silver One also owns a 100% interest in the Silver Phoenix Project. The Silver Phoenix Project is a very high-grade native silver project located within the “Arizona Silver Belt”, immediately adjacent to the prolific copper producing area of Globe, Arizona.
Forward-Looking Statements
The information in this press release contains forward-looking statements that are based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Silver One cautions that all forward-looking statements are inherently uncertain and actual performance may be affected by a number of material factors, many of which are beyond Silver One’s control. Such factors include, among others: risks and uncertainties relating to Silver One’s limited operating history, the ability to obtain sufficient financing to carry out the exploration and development objectives of its mineral properties, obtaining the necessary permits to conduct its operations and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities laws, Silver One undertakes no obligation to publicly update or revise any forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280270
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