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Oceanus Resources Announces Name Change to Silver Tiger Metals Inc., New Trading Symbol "SLVR" and Private Placement
HALIFAX, NS / ACCESSWIRE / May 14, 2020 / Oceanus Resources Corporation (TSXV:OCN) ("Oceanus...
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"Oceanus Resources Announces Name Change to Silver Tiger Metals Inc., New Trading Symbol “SLVR” and Private PlacementHALIFAX, NS / ACCESSWIRE / May 14, 2020 / Oceanus Resources Corporation (TSXV:OCN) (\"Oceanus\" or the \"Company\") announces that it is changing its name to Silver Tiger Metals Inc. and its trading symbol from \"OCN\" to \"SLVR\".Name and Trading Symbol ChangeEffective at the start of trading on Wednesday, May 20, 2020, Silver Tiger Metals Inc. (\"Silver Tiger\") will commence trading on the TSX Venture Exchange under the new symbol \"SLVR\".There is no change in the share capital of the Company. The Company's new CUSIP number is 82831T109 and its new ISIN number is CA82831T1093. No further action is required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name and symbol change and will not need to be exchanged.CEO, Glenn Jessome, states, \"We believe this name change more accurately reflects the Company's evolution as an emerging high-grade silver deposit in Sonora, Mexico. The new Silver Tiger name pays homage to the property's namesake historic El Tigre mine. The old El Tigre mine produced over 200 million silver equivalent ounces at an average grade of over 2 kgs per ton from 1903 to 1938. The old El Tigre mine forms a small portion of our 35 kilometer long, 28,000 hectare district size property. After acquiring the El Tigre property, our technical team focused on the low hanging fruit and drilled off and delivered our maiden NI 43-101 compliant resource estimate. It is the tenor of grade at El Tigre that excites us as we begin to drill the kilometers long un-mined high-grade vein extensions to the North and South of the old El Tigre mine.\"Private PlacementThe Company also announces a non-brokered private placement to raise up to $675,000 through the issuance of units at a price of $0.07 per unit. Each unit will consist of one common share and one-half warrant of the Company. Every two one-half common share purchase warrants of the Company entitles the subscriber to acquire one common share of the Company for $0.10 for a period of twenty-four months from the closing date. The Units issued pursuant to this private placement will be subject to a four month hold.The proceeds from the private placement will...