Business
Silicon Metals Corp. Closes Initial Tranche of Its Strategic NFT and FT Unit Offerings for Aggregate Gross Proceeds of $145,000
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that further to its news releases dated October 9th, 2025, it has closed the initial tranche of its previously announced non-brokered private placements (the "Offering") for gross aggregate proceeds of $145,000 (the "First Tranche"). The Company intends to close the final tranche of the Offering next week.In the First Tranche, the
About this update from Silicon Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 17, 2025) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that further to its news releases dated October 9th, 2025, it has closed the initial tranche of its previously announced non-brokered private placements (the "Offering") for gross aggregate proceeds of $145,000 (the "First Tranche"). The Company intends to close the final tranche of the Offering next week.","length":515,"tagName":"p"},{"type":"text","content":"In the First Tranche, the Company issued 1,500,000 non-flow-through units (each, a "Non-Flow-Through Unit") at a price of $0.05 per Share for gross proceeds of $75,000. The Non-Flow-Through Units consist of one common share of the Company and one half of a common share purchase warrant, with each whole warrant entitling the holder thereof to purchase a common share at an exercise price of $0.06 for a period of 24 months. The terms of the warrants also include an accelerator provision whereby, if the price of the common shares on the CSE closes at $0.15 or higher for a period of ten (10) consecutive trading days, the Company may accelerate the expiry date of the warrants to thirty (30) days from the acceleration trigger.","length":739,"tagName":"p"},{"type":"text","content":"The Company also issued 1,000,000 flow-through units (each, a "Flow-Through Unit") at a price of $0.07 per Share for gross proceeds of $70,000. The Flow-Through Units consist of one common flow-through share of the Company and one half of a common share purchase warrant, with each whole warrant entitling the holder thereof to purchase a common share at an exercise price of $0.10 for a period of 24 months. The terms of the warrants also include an accelerator provision whereby, if the price of the common shares on the CSE closes at $0.15 or higher for a period of ten (10) consecutive trading days, the Company may accelerate the expiry date of the warrants to thirty (30) days from the acceleration trigger.","length":723,"tagName":"p"},{"type":"text","content":"The Company intends to use the proceeds of the sale of the Non-Flow Through Units for general working capital purposes and proceeds of the sale of the Flow-Through Units to incur eligible exploration expenditures on its proje...