Silver Storm Mining Ltd. (TSXV: SVRS | OTCQB: SVRSF | FSE: SVR) is pleased to announce its intention to complete a non-brokered private placement offering of up to 18,200,000 units of the company at a price of C$0.11 per unit for gross proceeds of up to C$2M. The company reserves the right to increase the size of the offering, subject to the approval of the TSX Venture Exchange.
Each unit will consist of one common share of the company and one half of one common share purchase warrant. Each warrant shall be exercisable to acquire one additional common share at an exercise price of C$0.16 until 24 months from the date of issuance.
The company intends to use the net proceeds from the offering to advance drilling at La Parrilla, to perform technical studies for a potential restart in 2025, and to fund ongoing operations.
Part of the net proceeds will be used to follow-up on the previously announced drill results in the C460 Zone where Silver Storm intersected high-grade mineralization including 1,810g/t Ag.Eq over 14.62m from Hole Q-23-020, and 911g/t Ag.Eq over 13.05m from Hole Q-23-022A.
To find out more, please visit www.silverstorm.ca
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