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Silver Viper Minerals Announces C$5 Million Private Placement
VANCOUVER, British Columbia, May 13, 2020 (GLOBE NEWSWIRE) -- Silver Viper Minerals Corp. (“Silver Viper” or the “Company”) (TSX-V: VIPR) is pleased to announce
About this update from Silver Viper Minerals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 13, 2020 (GLOBE NEWSWIRE) -- Silver Viper Minerals Corp. (“Silver Viper” or the “Company”) (TSX-V: VIPR) is pleased to announce that it has entered into a letter of engagement with Eight Capital, under which Eight Capital and Red Cloud Securities Inc., as co-lead agents and joint bookrunners, acting on behalf of a syndicate of agents for the Company (the “Agents”), shall offer for sale up to 13,889,000 units of the Company (the “Units”) on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Unit of C$0.36 (the “Issue Price”) for total gross proceeds of up to C$5,000,040 (the “Offering”). Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of C$0.50 for a period of 24 months following the Closing Date. The Company has granted the Agents an over-allotment option to purchase up to an additional 2,778,000 Units at the Issue Price, exercisable in whole or in part, at any time on or prior to 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional C$1,000,080 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be C$6,000,120. The Company intends to use the net proceeds of the Offering to fund the development of the La Virginia project in Sonora, Mexico, and for working capital and general corporate purposes. The closing date of the Offering is scheduled to be on or about June 3, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. As consideration for their services, the Agents will receive a cash commission equal to 6% of the gross proceeds of the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sol...