Business
Silver Dollar Resources Arranges Financing with Continued Support from Strategic Investor Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Co
About this update from Silver Dollar Resources, Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) (\"Silver Dollar\" or the \"Company\") is arranging a non-brokered private placement financing with qualified investors of up to 6,000,000 units (the \"Units\") for maximum gross proceeds of $1,500,000 (the \"Offering\"). The Units will be priced at $0.25 and consist of one common share and one-half of a non-transferable share purchase warrant with each full warrant entitling the holder to purchase one additional common share of the Company at a price of $0.40 per share for two years from the closing date of the Offering. The Company has agreed to pay a finder's fee of up to 7% cash and 7% finders' warrants on a portion of the subscription proceeds. Finders' warrants will entitle the holder to purchase one common share of the Company at a price of $0.40 for twenty-four months from the closing date. All securities issued pursuant to this Offering will have a hold period expiring four months after the closing date. The Company will use the proceeds of the Offering to fund its initial drilling campaign at the recently acquired Ranger-Page Project in Idaho's Silver Valley and for general working capital purposes. Completion of this Offering is subject to Canadian Securities Exchange acceptance. Silver Dollar will rely on subsections 5.5(b) and 5.7(1)(a) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. To the Company's knowledge, neither it nor the purchasers have knowledge of any material information concerning the Company or its securities that has not been generally disclosed. About the Ranger-Page Project Ranger-Page is a drill-ready project in a world-class silver district. The land package covers six historic mines and is ideally situated near Interstate 90 with year-round access to power, water, local infrastructure and a workforce in the Silver Valley skilled in exploration and mining. The primary target areas are up and down plunge from historic underground mining, along strike where ground induced polarization (IP) surveys identify anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, u...