Business
Silver Tiger Metals Announces Closing of $23 Million Bought Deal Financing
HALIFAX, NS / ACCESSWIRE / March 2, 2021 / Silver Tiger Metals Inc. (TSXV:SLVR) ("Silver Tiger" or the "Corporation") is pleased to announce that it has closed
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":" HALIFAX, NS / ACCESSWIRE / March 2, 2021 / 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 38,333,334 Shares at a price of C$0.60 per Share for gross proceeds to the Company of approximately C$23 million were sold including 5,000,000 Shares for gross proceeds of approximately $3 million on the exercise in full of the over-allotment option granted by the Corporation to the syndicate of underwriters. The syndicate of underwriters was led by Sprott Capital Partners LP, as lead underwriter and sole bookrunner, along with Echelon Wealth Partners Inc. and Stifel GMP, as co-lead underwriters, and included Eight Capital, Beacon Securities Limited and Red Cloud Securities Inc. (collectively, the \"Underwriters\"). The Underwriters were paid a commission of 6% on the gross proceeds of the Offering. In addition, the Corporation issued compensation warrants to the Underwriters entitling them to purchase 6% of the number of Shares sold under the Offering at a price of $0.60 per Share for a period of 12 months following closing 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 the El Tigre Historic Mine District Silver Tiger Metals Inc...