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U.S. Silver & Gold Inc. Announces Planned Private Placement for up to $5,000,000
TORONTO , Aug. 14, 2013 /CNW/ - U.S. Silver & Gold Inc. (TSX: USA) (OTCQX: USGIF) ("...
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"\n\n\nTORONTO, Aug. 14, 2013 /CNW/ - U.S. Silver & Gold Inc. (TSX: USA)\n (OTCQX: USGIF) (\"U.S. Silver & Gold\" or the \"Company\") is pleased to\n announce a non-brokered private placement of up to 8,333,333 units\n (\"Units\") at a price of CDN $0.60 per Unit, for aggregate gross\n proceeds of up to approximately CDN $5,000,000 (the \"Offering\").\n\n\nEach Unit will consist of one common share and one half of one common\n share purchase warrant (each whole purchase warrant, a \"Warrant\"). Each\n Warrant will entitle the holder to acquire one common share at an\n exercise price of CDN $0.75 for a period of three years from the\n closing of the Offering.\n\n\nUS Silver & Gold intends to use the proceeds from the Offering to\n continue development of the low capital intensity, high potential\n Caladay Zone and for general administrative and corporate costs.\n\n\nA finder's fee may be payable in connection with this non-brokered\n private placement.\n\n\nThe Offering is expected to close on or about August 22, 2013 or such\n other date as the Company may determine. The Offering and the finders'\n fee are subject to certain conditions, including completion of formal\n documentation and receipt of regulatory approval, including the\n approval of the TSX.\n\n\nAbout U.S. Silver & Gold Inc.\n\n\nU.S. Silver & Gold Inc. is a newly formed silver and gold mining company\n focused on growth from its existing asset base and the execution of\n targeted accretive acquisitions. It owns and operates the Galena Mine\n Complex in the heart of the Silver Valley/Coeur d'Alene Mining\n District, Shoshone County, Idaho.  It produces high-grade silver and is\n the second most prolific silver mine in U.S. history, delivering over\n 200 million ounces to date. The Caladay Zone is being evaluated for\n bulk mining development.   U.S. Silver & Gold Inc. also owns the\n Drumlummon Mine Complex in Lewis and Clark County, Montana.\n\n\nMr. Jim Atkinson, Vice President, Exploration and a Qualified Person\n under Canadian Securities Administrators guidelines, has approved the\n contents of this news release.\n\n\nFor further information please see SEDAR or www.us-silver.com for the NI 43-101 compliant Technical Report on the Galena Project\n dated March 22, 2013.\n\n\nCautionary Statement Regarding Forward Looking Informat...