Silvermet Announces Exercise of Warrants
8 King Street East, Suite 1700 Toronto, Ontario, Canada M5C 1B5 Telephone: (416) 203-8336 Facsimile: (416) 368-5146
SILVERMET ANNOUNCES EXERCISE OF WARRANTS
TORONTO, September 21, 2010: Silvermet Inc. (“Silvermet” or the “Company” TSXV: SYI) is pleased to announce that 96.4% of the warrants issued in connection with the March 23, 2009 private placement have been exercised prior to their expiry on September 20, 2010. With the additional early exercise of some warrants that expire on November 6, 2010 and broker units, the Company has issued 8,473,000 shares at $0.10 per share for total proceeds of $847,300. 6,625,000 of the warrants that expire November 6, 2010 remain to be exercised.
With the issuance of these shares, the issued and outstanding common shares of Silvermet have increased to 133,885,216 shares.
About Silvermet:
Silvermet is a producer of zinc concentrate from its Waelz Kiln Plant located in Iskenderun, Turkey. Silvermet produces the zinc concentrate through the reprocessing of Electric Arc Furnace Dust (EAFD) that is produced by local steel mills. Silvermet’s product is sold to smelters around the world.
For further information, please contact:
Stephen G. Roman, Chairman & CEO Silvermet Inc.
Tel: (416) 203-8336 Website: www.silvermet.ca
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raised additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.