Business
Silver One Increases Financing to $9.5 Million
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2020) - Silver One Resources Inc. (TS...
About this update from Silver One Resources Inc.
[{"type":"text","content":"Silver One Increases Financing to $9.5 MillionVancouver, British Columbia--(Newsfile Corp. - July 13, 2020) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) (\"Silver One\") is pleased to announce due to an oversubscription that it has increased its previously announced private placement financing from 20,000,000 units (\"Units\") to 21,111,111 Units at a price of $0.45 per Unit for gross proceeds of $9.5 million (the \"Offering\").Each Unit will continue to 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 OneSilver One is focused on the exploration and development of quality silver projects. The Company holds an ...