Business
Tier One Silver Closes First Tranche and Extends Final Closing of Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNIT...
About this update from Tier One Silver, Inc.
[{"type":"text","content":"Tier One Silver Closes First Tranche and Extends Final Closing of FinancingTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / December 8, 2023 / Tier One Silver Inc. (TSXV:TSLV) (\"Tier One\" or the \"Company\") is pleased to announce that it has completed the first tranche of its non-brokered private placement, the terms of which were announced October 26, 2023 (the \"Offering\"), by issuing 4,954,000 units of the Company (each, a \"Unit\") at an offering price of C$0.10 per Unit for gross proceeds of C$495,400. The Company intends to extend the closing of a second and final tranche to December 15, 2023, subject to TSX Venture Exchange approval. Raising further funds is subject to the execution of additional subscription agreements by investors.In connection with the closing of the first tranche of the Offering, the Company paid cash finders' fees of C$13,824 and issued 138,240 non-transferable finders' warrants, with each finders' warrant exercisable for one common share of the Company at the exercise price of C$0.25 until December 8, 2025. The proposed use of proceeds from the Offering is to fund general working capital.In accordance with applicable securities laws, the securities issued under the Offering are subject to a statutory four-month and one-day hold period from the date of issuance in Canada. Final approval by the TSX Venture Exchange is expected upon filing standard documentation.ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.Peter Dembicki President, CEO and DirectorFor further information on Tier One Silver Inc., please contact the company at (778) 729-0700 or [email protected] Tier One SilverTier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. The Company's exploration assets in Peru include: Corisur and the flagship project, Curibaya. For more information, visit www.tieronesilver.com.Forward Looking Information and General Cautionary LanguageThis news release contains forward-looking statements and forward-looking information within th...