Business
Silver Tiger Closes $11 Million Non-Brokered Private Placement with Investment by Eric Sprott
HALIFAX, NS / ACCESSWIRE / July 28, 2020 / Silver Tiger Metals Inc. (TSXV:SLVR and OTCQB:SLV...
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"Silver Tiger Closes $11 Million Non-Brokered Private Placement with Investment by Eric SprottHALIFAX, NS / ACCESSWIRE / July 28, 2020 / Silver Tiger Metals Inc. (TSXV:SLVR and OTCQB:SLVTF) (\"Silver Tiger\" or the \"Corporation\") is pleased to announce that it has closed its previously announced institutional non-brokered private placement of units of the Corporation (\"Private Placement\") for gross proceeds of $11 million, including $4 million from Eric Sprott, with the majority of the balance invested by strategic institutional resource funds.Silver Tiger issued an aggregate of 36,666,667 units at a price of $0.30 each (the \"Units\"). Each Unit is comprised of one common share of the Corporation and one-half common share purchase warrant, with each full warrant exercisable at $0.50 for 36 months after the issuance of the warrants.Glenn Jessome, President and CEO of Silver Tiger, commented, \"We are pleased to have Mr. Sprott's support along with that of our other strategic institutional resource investors. We are now fully funded to drill the high grade vein extensions to the North and South of the historic El Tigre Mine.\"The net proceeds from the offering shall be primarily used to fund continued exploration of the Corporation's El Tigre silver property located in Sonora, Mexico. A portion of the proceeds will be used for general working capital purposes.In connection with the closing, Silver Tiger issued 2,000,000 finder's warrants to one finder who acted on behalf of the Corporation in connection with the Private Placement. Each finder's warrant is exercisable into one common share of the Company at $0.50 per share, for a period of 36 months from the closing date.All common shares issued in connection with the Private Placement and all common shares issued in connection with the finder's warrants are subject to a four-month hold period that expires on November 28, 2020.Red Cloud Summer Silver Conference - July 28, 2020Glenn Jessome, the President and CEO of Silver Tiger, will be a panelist at the virtual Red Cloud Summer Silver Conference today and he will be providing an El Tigre VRIFY presentation at the Conference at 3:45 EST. Please click on the link below to register for the Conference.https://redcloud.eventsair.com/red-cloud-2020-silver-summer-mini-conference/rc2020summersilverregistration/Site/RegisterAbout the E...