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Silver Sands Resources Closes Over-Subscribed Private Placement Including Strategic Investment by Eric Sprott
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2022) - Further to its news release dated March 9, 2022, Silver Sands Resources Corp. (CSE: SAND) (the
About this update from Silver Sands Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 24, 2022) - Further to its news release dated March 9, 2022, Silver Sands Resources Corp. (CSE: SAND) (the \"Company\" or \"Silver Sands\") is pleased to announce that it has closed its over-subscribed, non-brokered private placement for aggregate gross proceeds of C$1,345,000 (the \"Private Placement\") through the issuance of up to 13,450,000 units of the Company (each a \"Unit\") at a price of C$0.10 per Unit. Each Unit consists of one common share in the capital of the Company (each a \"Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one share at a price of C$0.15 per share for a period of 24 months following the date of issuance. The Warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company's share price on the CSE (or such other stock exchange the Shares may be trading on) is equal to or greater than C$0.30 for a period of 10 consecutive trading days. The Company has paid 8% Cash Finders' fees totaling $45,600 and issued 456,000 Finder's Warrants which have the same terms as the subscribers' warrants described above. Proceeds of the Private Placement will be used for exploration expenditures on the Project, for accounts payable and ongoing general working capital requirements. The securities issued in connection with the Private Placement are subject to a four month hold period as required by applicable securities laws and the policies of the Canadian Securities Exchange. About Silver Sands Resources Corp. Silver Sands is a well-financed, Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the Virginia silver project, located in the mining-friendly Santa Cruz state of Argentina. On Behalf of the Board of Directors Keith AndersonChief Executive Officer, Director For further information, please contact: Keith AndersonChief Executive Officer, Director (604) 786-7774 SILVER SANDS RESOURCES CORP. Suite 830 - 1100 Melville StreetVancouver, British Columbia V6E 4A6www.silversandscorp.com The Canadian Securi...