- Silver Valley Metals Corp. (SILV) has applied to the TSX Venture Exchange for conditional approval to close its first tranche
- The company filed documents with the TSXV for its $0.075 unit private placement financing, for aggregate gross proceeds of up to $855,000, with a first tranche close of $697,283.55
- When it receives the Exchange approval, the company will close the first tranche, issuing 9,297,114 units
- Silver Valley Metals Corp. is a brownfields exploration company with two potential high-impact projects in Mexico and USA
- Silver Valley Metals Corp. was unchanged at $0.095 at 1:57 PM ET
Silver Valley Metals Corp. (SILV) has applied to the TSX Venture Exchange for conditional approval to close its first tranche
The company filed documents with the TSXV for its $0.075 unit private placement financing, for aggregate gross proceeds of up to $855,000, with a first tranche close of $697,283.55.
When it receives the Exchange approval, the company will close the first tranche, issuing 9,297,114 units, each unit consisting of one common share of the company and one common share purchase warrant.
Each warrant is exercisable at $0.15 for 24 months from the date of issue.
“I’d like to take a moment to welcome and thank the many new and strategic investors into Silver Valley Metals,” said President and CEO Brandon Rook.
“The foundation of the company has never been stronger considering these challenging markets, and we look forward to an eventful coming year building shareholder wealth from the current valuation,” he added.
Proceeds from the financing will be used for completing the phase 2 exploration campaign at the Ranger-Page project and general working capital.
On receipt of Exchange approval, the company will pay cash finders’ fees totalling $44,861 and issue 598,147 broker warrants, exercisable at $0.15 for 24 months from the date of issue.
The financing was effected with three insiders, for a total of 576,667 units or $43,250, each insider subscription being a “related party transaction” as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions.
Silver Valley Metals Corp. is a brownfields exploration company with two potential high-impact projects that comprise lithium-potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA, respectively.
Silver Valley Metals Corp. was unchanged at $0.095 at 1:57 PM ET.