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GR Silver Mining Closes First Tranche of Non-Brokered Private Placement Financing
GR Silver Mining Closes First Tranche of Non-Brokered Private Placement Financing Canad...
About this update from Gr Silver Mining Ltd.
[{"type":"text","content":"\n \n \n \n GR Silver Mining Closes First Tranche of Non-Brokered Private Placement Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 10, 2023\n \n \n /CNW/ -\n \n GR Silver Mining Ltd.\n \n (\"GR Silver Mining\" or the \"Company\") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce it has closed the first tranche (the \"\n \n First Tranche\"\n \n ) of its non-brokered private placement (the \"\n \n Offering\n \n \") previously announced on\n \n July 31, 2023\n \n (see\n \n News Release\n \n ).  Under the First Tranche, the Company has issued 6,597,500 Units for gross proceeds of\n \n $329,875\n \n . In connection with the First Tranche, the Company paid a total of\n \n $8,100\n \n and issued a total of 162,000 warrants as finder's fees. Each finder's warrant is exercisable for one common share at a price of\n \n $0.08\n \n for two years.\n \n \n \n \n \n \n \n \n \n All securities issued under the First Tranche are subject to a hold period expiring\n \n December 10, 2023\n \n , in accordance with applicable securities laws and the policies of the TSX Venture Exchange.\n \n \n A director and officer of the Company (the \"\n \n Insider\n \n \") participated in the First Tranche and purchased an aggregate of 510,000 Units for aggregate gross proceeds of\n \n $25,500\n \n . Participation by the Insider in the private placement is considered a \"related party transaction\" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\").  The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insider's participation in the private placement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participati...