Business
Silver Tiger To Restart Safe Exploration at El Tigre and Closes Private Placement
HALIFAX, NS / ACCESSWIRE / May 22, 2020 / Silver Tiger Metals Inc. (TSXV:SLVR) ("Silver Ti...
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"Silver Tiger To Restart Safe Exploration at El Tigre and Closes Private PlacementHALIFAX, NS / ACCESSWIRE / May 22, 2020 / Silver Tiger Metals Inc. (TSXV:SLVR) (\"Silver Tiger\" or the \"Company\") is pleased to announce that it will begin a safe, phased restart of exploration at its El Tigre property beginning June 1, 2020. This restart of exploration is following the Mexican Health Ministry's decree on May 13, 2020 that amends the March 30, 2020 decree to include mining as an essential service effective June 1, 2020.Silver Tiger has closed its previously announced non-brokered private placement raising $675,000 through the issuance of 9,642,857 units at a price of $0.07 per unit. Each unit consisting of one (1) Common Share and one-half (1/2) warrant of the Company. Every two (2) one-half common share purchase warrants of the Company entitling the subscriber to acquire one (1) common share of the Company for $0.10 for a period of twenty-four (24) months from the closing date. The common shares issued pursuant to this private placement are subject to a 4 month hold period that expires on September 23, 2020. The proceeds from the private placement will be used for Silver Tiger's El Tigre Property in Sonora, Mexico and for general working capital purposes. The private placement remains subject to final acceptance by the TSX Venture Exchange (the \"Exchange\").CEO, Glenn Jessome states, \"Our focus will always be the health and safety of our employees, contractors, their families and the neighboring communities as we begin to explore again. I would like to thank all of our employees and contractors for the ongoing support during this unprecendented time. Our exploration team is ready to get back to work at El Tigre. The historic El Tigre mine produced over 200 million silver equivalent ounces at an average grade of over 2 kgs per ton from 1903 to 1938. It is this tenor of grade on our large land package which we look forward to exploiting. I urge all to view the 3D Presentation and Slide Deck of the El Tigre property at Silver Tiger's profile page on https://vrify.com or on the VRIFY app.\"VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.Ac...