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Silver Hammer Mining Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners
VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) -- (CSE: HAMR/OTCQB: HAMRF) Silver Hammer Mining Corp. (the “Company” or “Silver Hammer”) is pleased
About this update from Silver Hammer Mining Corp
[{"type":"text","content":" VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) -- (CSE: HAMR/OTCQB: HAMRF) Silver Hammer Mining Corp. (the “Company” or “Silver Hammer”) is pleased to announce its intention to complete a brokered private placement on a commercially reasonable efforts basis for gross proceeds of up to approximately C$3,000,000 (the “Offering”). The Offering will be led by Echelon Wealth Partners Inc. as lead agent and sole bookrunner (the “Agent”). The Company will grant the Agent an option to increase the size of the Offering by up to 15% of the Units sold under the Offering exercisable, in whole or in part, by the Agent upon written notice to the Company at any time up to 48 hours prior to the final closing date of the Offering. The Offering will consist of up to 7,894,800 units of the Company (each, a “Unit”, and collectively the “Units”) at a price of C$0.38 per Unit (the “Offering Price”). Each Unit consists of one Common Share (each, a “Common Share”, and collectively the “Common Shares”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant” and collectively the “Warrants”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.50 per Common Share for a period of 24 months from the closing date of the Offering. The Company will apply to list the Common Shares (including the Common Shares underlying the Warrants and the broker warrants (as described below)) on the Canadian Securities Exchange (“CSE”) upon closing of the Offering. The net proceeds of the Offering will be used for the exploration of the Silver Strand Project in Idaho, the Eliza Silver Project in Nevada, the Silverton Silver-Gold Project in Nevada, and for general and working capital purposes. The Company will pay a cash commission to the Agent equal to 8.0% of the aggregate gross proceeds of the Offering (4.0% from the sale of Units to purchasers identified on the Company’s president’s list) and will issue broker warrants equal to 8.0% of the number of Units sold under the Offering (4.0% of the number of Units from the sale of Units to purchasers identified on the Company’s president’s list), each exercisable to acquire one Common Share at $0.38 for a period of 24 months from the closing date of the Offering. Closing of the Offering is expected to occur on or about June 2, 2022. The Units will be offer...