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Silver Valley Metals Files for Approval of Oversubscribed Non-Brokered Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Silver Valley Metals Corp....
About this update from Silver Valley Metals Corp
[{"type":"text","content":"Silver Valley Metals Files for Approval of Oversubscribed Non-Brokered Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (\"Silver Valley\" or the \"Company\"), a brownfields exploration Company with two potential high impact projects that comprise lithium - potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA respectively, is pleased to announce that it has filed documents with the TSX Venture Exchange (the \"Exchange\") for conditional approval of a $0.075 unit private placement financing (the \"Financing\"), for aggregate gross proceeds of up to $855,000, with a first tranche close of $697,283.55. On receipt of Exchange approval the Company will close the first tranche, issuing 9,297,114 units (the \"Units\"), each Unit consisting of 1 common share of the Company and 1 common share purchase warrant (the \"Warrants\"). Each warrant is exercisable at $0.15 for 24 months from the date of issue. President and CEO, Brandon Rook commented, \"I'd like to take a moment to welcome and thank the many new and strategic investors into Silver Valley Metals. The foundation of the Company has never been stronger considering these challenging markets. It is very encouraging to see that our projects are being well received as they are developing to the drill stage (Idaho) which will ultimately test for new discoveries in addition to expanding on the known mineralization at our tier 1 project that has district size potential. We also look forward to a positive outcome from our substantial lithium and sulphate of potash deposit(s) in Mexico in the near term. We look forward to an eventful coming year building shareholder wealth from the current valuation.\" Proceeds from the Financing will be used for: Completing the phase 2 exploration campaign at the Ranger-Page project; this includes completing the comprehensive geological model from four phases of geophysical surveys, numerous geochemical surveys including soil sampling, rock chip and trench sampling, LIDAR integration, and fieldwork structural interpretation. These programs are ongoing. Following this, a compelling multi-target drill plan will be developed and marketed for the upcoming inaugural drill campaign.To maintain ...