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Silver Storm Announces Non-Brokered Private Placement LIFE Offering for Gross Proceeds of up to C$2.6 Million
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About this update from Silver Storm Mining Ltd.
[{"type":"text","content":"Silver Storm Announces Non-Brokered Private Placement LIFE Offering for Gross Proceeds of up to C$2.6 Million\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/\n \n\n\n\n\n Silver Storm Mining Ltd. (“\n \n Silver Storm\n \n ” or the “\n \n Company\n \n ”) (TSX.V: SVRS | FSE: SVR), is pleased to announce its intention to complete a non-brokered private placement (the “\n \n Offering\n \n ”) for gross proceeds of up to C$2,600,000 from the sale of up to 20,000,000 units of the Company (each, a “\n \n Unit\n \n ”) at a price of $0.13 per Unit (the “\n \n Offering Price\n \n ”).\n \n\n Each Unit will consist of one common share of the Company (each, a “\n \n Unit Share\n \n ”) and one common share purchase warrant (each a “\n \n Warrant\n \n ”). Each Warrant shall entitle the holder to purchase one common share (each, a “\n \n Warrant Share\n \n ”) at a price of C$0.20 at any time on or before that date which is thirty-six (36) months after the date of issuance.\n \n\n Greg McKenzie, President & CEO of Silver Storm commented: “We are pleased with the commencement of institutional interest in the company, this equity raise will further underpin the strong liquidity base in the Company.”\n \n\n Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106 –\n \n Prospectus Exemptions\n \n (“\n \n NI 45-106\n \n ” and with Part 5A, the “\n \n Listed Issuer Financing Exemption\n \n ”), the Units will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. The Unit Shares and Warrant Shares underlying the Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers’ resident in Canada. The Units sold under the Offering may also be issued to purchasers outside of Canada, including to purchaser’s resident in the United States and in certain offshore foreign jurisdictions, pursuant to applicable regulatory requirements and in accordance...