Tier One Silver successfully secures $6.5 million in oversubscribed equity funding.
In a recent development, Tier One Silver Inc., an exploration company focused on discovering world-class silver, gold, and copper deposits in South America, has announced the completion of a non-brokered private placement.
The private placement saw the issuance of 39,762,000 units for gross proceeds of CAD 3,180,960. Each unit consists of one common share and one full common share purchase warrant. The warrants entitle holders to purchase one share at CAD 0.11 for up to 36 months.
In connection with the closing of the second tranche, cash finders' fees of CAD 165,256 and 2,065,700 finder's warrants were issued. The source of this press release can be found at https://www.newsfilecorp.com/release/266789.
The securities issued are not registered under the United States Securities Act of 1933 and may not be offered or sold within the United States or to U.S. persons.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release is not for distribution to U.S. newswire services for dissemination in the United States.
The Shares, Warrants, and any additional Shares issued on exercise of the Warrants are subject to a four-month and one day hold period in Canada. Readers are advised to refer to the risks discussed in the Company's Annual Information Form, Management's Discussion & Analysis, and subsequent continuous disclosure filings available at www.sedarplus.ca.
This news release contains forward-looking statements regarding the Company's expectations and views of future events, including the use of proceeds from the Offering and receipt of regulatory approval. The proposed use of proceeds from the Offering is to fund exploration at Curibaya, new project investigation, and general working capital.
Julia Becker, the Capital Markets Contact for Tier One Silver Inc., can be reached at [email protected]. This news release was provided by Newsfile via QuoteMedia.
Readers are reminded that actual results may differ materially from those expressed in these forward-looking statements. These forward-looking statements should not be heavily relied upon. Readers are advised to refer to the risks discussed in the Company's Annual Information Form, Management's Discussion & Analysis, and subsequent continuous disclosure filings available at www.sedarplus.ca.
The second tranche of warrants expires on September 16, 2028. The institution acting as financial advisor for Tier One Silver Inc. during the non-brokered private placement was Maximus Strategic Consulting Corp., which received a fee of CAD 132,000 and 1,200,000 warrants.
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