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Silver Predator Completes Acquisition of Taylor Project and Closes Private Placement
Silver Predator Completes Acquisition of Taylor Project and Closes Private Placement Reno, ...
About this update from Silver Predator Corp
[{"type":"text","content":"Silver Predator Completes Acquisition of Taylor Project and Closes Private PlacementSilver Predator Completes Acquisition of Taylor Project and Closes Private Placement\n\nReno, Nevada US, December 12, 2013 /FSC/ - Silver Predator Corp.  (SPD - TSX), (the \"Company\") is pleased to announce that on December 11, 2013, it completed the exercise of its option to acquire 100% of the Taylor silver project in eastern Nevada, USA and now has full title to the property.  In connection with the exercise of the option, the Company issued 6,283,333 common shares (the \"Shares\") to Americas Bullion Royalty Corp. (TSX:AMB) (\"AMB\") on December 11, 2013, representing the final payment required to exercise the option.  For further information, please see the Company's news releases of December 10, 2010, January 21, 2013 and March 18, 2013.\n\nPrivate Placement\n\nFurther to the Company's press release of October 25, 2013, the Company also announces that on December 12, 2013, it closed the first tranche of a non-brokered private placement of 12,300,000 Shares at a price of $0.05 per Share to raise gross proceeds of $615,000. On closing of the first tranche, 7,719,869 Shares were issued, of which 5,419,869 Shares were purchased by AMB.\n\nThe second tranche of 4,580,131 Shares, which were also subscribed by AMB under the private placement, will be issued upon the Company obtaining disinterested shareholder approval.  In connection with the closing of the private placement, the Company paid finders' fees of $2,500.  The proceeds from the private placement will be used for exploration of the Company's properties and for general corporate purposes.\n\nAs a result of these recently closed transactions, AMB now holds directly and indirectly 25,476,535 Shares, or approximately 37.51% of the Company's issued and outstanding shares, prior to closing of the second tranche.\n\nThe Company will announce the date for a shareholder meeting in due course. \n\nThe securities referenced in this news release have not been registered and may not be sold in the United States absent registration or an exemption from registration.\n\nFor additional information: \n\nWilliam M. Sheriff, Chairman\n(208) 635 5415 \n\nor\n\nNathan A. Tewalt, Chief Executive Officer\n(775) 284 1271 \n\[email protected]  ...