Business
Kuya Silver Announces Closing of Financing and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silve
About this update from Kuya Silver Corporation
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") is pleased to announce that it has closed the final tranche (the \"Final Tranche\") of its offering of flow-through units (each a \"FT Unit\") and non-flow-through units (each a \"Unit\") for gross proceeds of CAD$1,966,568 (the \"Offering\"). The Company issued 1,369,926 Units and 2,300,000 FT Units in the Final Tranche for proceeds of CAD$1,739,068 and 529,070 Units for proceeds of CAD$227,500 in the first tranche. Each Unit consisted of one (1) common share in the capital of the Company (each a \"Common Share\") and one (1) non-transferable Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one (1) Common Share at CAD$0.70 until December 21, 2025. Each FT Unit consisted of one (1) common share in the capital of the Company that qualifies as a \"flow-through share\" for the purposes of the Income Tax Act (Canada) (each, a \"FT Common Share\") and one half of one (1/2) non-transferable Common Share purchase warrant (each whole warrant, a \"FT Offering Warrant\"). Each FT Offering Warrant entitles the holder to purchase one (1) Common Share at CAD$0.70 until December 21, 2025. In connection with the Final Tranche, the Company paid finder's fees of CAD$99,711.18, equal to 6% of the total proceeds raised by eligible finders, and issued 209,421 finder warrants (each, a \"Finder Warrant\"), equal to 6% of the number of Units and FT Units sold by eligible finders. The Finder Warrants are exercisable at $0.70 until December 21, 2025. The Final Tranche constituted a \"related party transaction\" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"), as Maura Lendon, Director, acquired 13,000 Units. Ms. Lendon now holds 60,322 Common Shares or 0.10%. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Final Tranche by the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change ...