Business
Silver Tiger Metals Announces Closing of $18 Million Bought Deal Financing
HALIFAX, Nova Scotia, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Silver Tiger Metals Inc. (TSXV:SLVR) (“Silver Tiger” or the “Corporation”) is pleased to announce that i
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":" HALIFAX, Nova Scotia, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Silver Tiger Metals Inc. (TSXV:SLVR) (“Silver Tiger” or the “Corporation”) is pleased to announce that it has closed its previously announced bought deal offering (the “Offering”) of common shares of the Company (the “Shares”) with a syndicate of underwriters. An aggregate of 58,100,000 Shares at a price of C$0.31 per Share for gross proceeds to the Company of approximately C$18 million were sold. The Corporation intends to use the proceeds of the Offering to continue advancement of the El Tigre mining project and for general corporate purposes. The syndicate of underwriters was led by BMO Capital Markets, as lead underwriter and sole bookrunner, and included Desjardins Securities Inc., PI Financial Corp., Sprott Capital Partners LP, Echelon Wealth Partners Inc. and Eight Capital (collectively, the “Underwriters”). The Underwriters were paid a cash commission of 6% on the gross proceeds of the Offering. The Offering was completed by way of short form prospectus in each of the provinces of Canada, except Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Shares were not offered or sold in the United States except under Rule 144A or Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. About Silver Tiger and the El Tigre Historic Mine District Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years’ experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger’s 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social ...