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Kootenay Silver Announces Upsized $5 Million Marketed Private Placement of Units
VANCOUVER, British Columbia, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Kootenay Silver Inc. (“Kootenay” or the “Company”) (TSXV: KTN) announces that, due to strong inve
About this update from Kootenay Silver Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Kootenay Silver Inc. (“Kootenay” or the “Company”) (TSXV: KTN) announces that, due to strong investor demand, it has agreed with Research Capital Corporation, as sole agent and sole bookrunner (the “Agent”), to increase the size of the previously announced best efforts private placement offering of units of the Company (the “Units”) for gross proceeds of up to $5,000,000 (the “Offering”). Each Unit will be comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price of $0.22 per Warrant Share for a period of 36 months from the closing of the Offering. All other terms remain as described on the Company’s new release dated February 9, 2022. The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Agent will have an option (the “Agent’s Option”) to offer for sale up to an additional 15% of the number of Units sold in the Offering at the Offering Price, which Agent’s Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. About Kootenay Silver Inc. Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico. Supported by one of the largest junior portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of its priority silver projects located in prolific mining distr...