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Silver One Announces Fully Subscribed $9,000,000 Financing
Vancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - Silver One Resources Inc. (TSX...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Silver One Announces Fully Subscribed $9,000,000 FinancingVancouver, British Columbia--(Newsfile Corp. - July 8, 2020) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) (\"Silver One\") is pleased to announce that it will conduct a fully subscribed non-brokered private placement of 20,000,000 units (\"Units\") at a price of $0.45 per Unit for gross proceeds of $9,000,000 (the \"Offering\"). Further, Eric Sprott (\"Sprott\"), through 2176423 Ontario Ltd., a company beneficially owned by Sprott, plans to subscribe for $5,000,000 of the Offering. Each Unit will be comprised of one common share and one-half of one common share purchase warrant (\"Warrant\"), with each whole Warrant entitling the holder to purchase one additional common share at $0.65 per share for a period of three (3) years from the date of issue.All securities issued in connection with the Offering will be subject to a four‐month statutory hold period. The Company may pay a finder's fee may in cash and or share purchase warrants in accordance with the rules of the TSX Venture Exchange.Proceeds of the financing will be used for ongoing exploration and drilling activities at the Candelaria Silver Project, additional exploration activities to further define the high-grade silver-gold-copper vein systems at the Company's Cherokee Project and to explore for very high-grade targets at the recently acquired Phoenix Silver project. It will also be used for potential silver focused acquisitions and for working capital purposes.Completion of the private placement remains subject to the approval of the TSX Venture Exchange.This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.About Silver OneSilve...