Silver Viper Minerals Corp. (TSXV: VIPR | OTC: VIPRF) has announced intent to undertake a non-brokered private placement financing pursuant to the listed issuer financing exemption (LIFE) of NI 45-106 to raise up to C$5M from the sale of up to 45.4M units at C$0.11 each.
Each unit will consist of one company share and one warrant, each warrant entitling the holder thereof to acquire one share at C$0.20 each for a period of 24 months from its date of issue.
The company intends to use the minimum net proceeds of C$2M for working capital requirements and other general corporate purposes which includes legal and financing fees, and the final US$200,000 option payment on its La Virginia Project due in 2024. Any additional proceeds will be used to continue surface exploration including mapping and sampling as well as a drill campaign at the La Virginia Project.
Silver Viper Minerals is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The company currently operates the La Virginia Gold-Silver Project.
Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
For further information, please visit: www.silverviperminerals.com
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