Business
Silver Crown Royalties Announces Updates to Non-Brokered Private Placement
TORONTO, ON – TheNewswire - FEBRUARY 18, 2025 – Silver Crown Royalties Inc. (“Silver Crown”, “SCRi”, the “Corporation”, or the “Company”) is pleased to provide
About this update from Silver Crown Royalties Inc
[{"type":"text","content":"TORONTO, ON – TheNewswire - FEBRUARY 18, 2025 – Silver Crown Royalties Inc. (“Silver Crown”, “SCRi”, the “Corporation”, or the “Company”) is pleased to provide an update on its non-brokered offering (the “Offering”) of units (“Units”) for gross proceeds of up to C$3,000,000 that was previously announced on February 6, 2025. The Company is amending the terms of the Offering so that each Unit will be priced at C$6.50 (“New Offering”) and will now issue up to 461,538 Units for gross proceeds of C$3,000,000. Each New Unit will consist of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will be exercisable to acquire one (1) additional New Common Share at an exercise price of C$13.00 for a period of three years from the date of the closing of the New Offering (the “Expiry Date”). Proceeds of the New Offering will be used to fund the second tranche of its silver royalty acquisition on the Igor 4 project in Peru as well as a general and administrative expenses of SCRi. All securities issued pursuant to the New Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. Closing of the New Offering will be subject to customary conditions precedent, including the prior approval of Cboe Canada Inc. Peter Bures, Silver Crown’s Chief Executive Officer commented, “As we continue our outreach during the course of the financing, we have received a substantial level of interest at these revised terms. We continue to build the book and expect it to be fully subscribed in a timely manner. The additional funds will allow us to close the second tranche of the PPX royalty transaction and bulk up our balance sheet for additional smaller transactions.” ABOUT SILVER CROWN ROYALTIES INC. Founded by industry veterans, SCRi is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact: Silver Crown ...