Masivo Silver Arranges Financing
MASIVO SILVER CORP #312 – 125 WEST 18TH STREET NORTH VANCOUVER, BC V7M 1W5
_______________________________________________________________________________________
TSXV: MASS / OTC: GNYPF May 12, 2022
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MASIVO SILVER ARRANGES FINANCING
Vancouver, BC – Masivo Silver Corp. (TSXV: MASS) (OTC: GNYPF) (“Masivo” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement of up to 48,000,000 Units (the "Units") in the capital of the Company at a price of C$0.05 per Unit for gross proceeds of up to C$2,400,000 (the "Offering"). Each Unit will consist of one common share and one non-transferable common share purchase warrant (a "Warrant") exercisable at C$0.10 to purchase an additional common share for a period of 24 months from closing.
The net proceeds of the Offering will be used for exploration on newly acquired properties in Nevada and Mexico as well for general working capital. Finders fees may be paid on the Offering pursuant to the policies of the TSX Venture Exchange.
In addition, the Company announces that, subject to TSX Venture Exchane approval, it has granted incentive stock options to various directors, advisors, and consultants to purchase up to 3,000,000 common shares exercisable at a price of $0.10 per share for a period of five years.
About Masivo Silver Corp.
Masivo is a Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Massivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinoloa, Mexico. The Nevada projects are located in the highly prolific mining district of Elko County, covering approximately 543 hectares (1,342 acres), consisting of 65 unpatented land claims, including the historic Boston Mine. In Mexico, Masivo's mining focus includes silver and gold exploration, development, and ore processing within an aggregate of 14,000+ hectares (35,000+ acres) strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The Company's mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day. Additional information on Masivo's current operations and vision, is available on the Company's website at www.masivosilver.com or email [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS “David Coburn”
David Coburn, Chief Executive Officer For information, please contact the Company:
Phone: 602-315-1231 E-mail: [email protected] Website: www.masivosilver.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.