Silver Mountain Announces Listing of Common Share Purchase Warrants
Silver Mountain Announces Listing of
Common Share Purchase Warrants
TORONTO
,
May 8, 2024
/CNW/ -
Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB:
AGMRF) ("
Silver Mountain
" or the "
Company
"),
is pleased to announce that the TSX Venture
Exchange (the "
TSXV
") has accepted for listing
87,638,928
common share purchase warrants of the
Company (the "
Warrants
") for trading on the TSXV.
Such Warrants are being issued
pursuant to a
prospectus supplement (the "
Supplement
") to the short form base shelf prospectus of the Company
dated
November 9, 2022
, which Supplement was dated
April 18, 2024
(the "
Offering
"). For more
information about the Offering, please refer to the Company's news release dated
April 24, 2024
,
which is available under the Company's SEDAR+ profile at
https://sedarplus.ca
.
Under the Offering, an aggregate of up to
97,854,926 Warrants may be issued.
87,638,928
Warrants were issued on
April 24, 2024
in connection with the closing of the Offering, including the
partial exercise by the agents of the Over-Allotment Option (as defined below). The Company has
also granted the agents under the Offering an option (the "
Over-Allotment Option
") exercisable in
whole or in part, to purchase up to an additional 15% of the number of units (including the
components thereof) of the Offering on the same terms, at any time up to 30 days following the
closing date. An additional 6,452,347 Warrants may become issuable upon exercise of such Over-
Allotment Option. In addition, up to 3,763,651 Warrants may become issuable upon the due exercise
of certain broker warrants issued in connection with the Offering.
Each Warrant entitles the holder thereof to purchase one class A common share in the capital of the
Company (a "
Common
Share
") at a price of
$0.135
per Common Share until
April 24, 2028
. The
Warrants are governed by the terms of a warrant indenture dated
April 24, 2024
between the
Company and Odyssey Trust Company as warrant agent (the "
Warrant
Indenture
"). For further
details regarding the Warrants, please refer to the Warrant Indenture which is available under the
Company's SEDAR+ profile at
https://sedarplus.ca
.
The Warrants are expected to commence trading on the TSXV at the open of markets on
May 10,
2024
under the trading symbol "AGMR.WT.B".
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production
at the Reliquias underground mine and undertake exploration activities at its prospective silver
camps at the Castrovirreyna Project in Huancavelica,
Peru
.
For additional information in respect of the Castrovirreyna Project, please refer to the Company's
technical report, titled NI 43-101 Technical Report: Mineral Resource Update, Reliquias Mine, dated
March 8, 2024
, effective date
January 1, 2024
, available at
https://sedarplus.ca
.
For further information about our drill program, including cross sections of the main veins with drill
hole locations, please refer to our corporate presentation, available on our website at
www.agmr.ca
.
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and
holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica,
Peru
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to
Silver Mountain's current expectations and views of future events. Any statements that express, or
involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or
performance (often, but not always, through the use of words or phrases such as "will likely result",
"are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated",
"intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical
facts and may be forward-looking statements and may involve estimates, assumptions and
uncertainties which could cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be given that these expectations
will prove to be correct and such forward-looking statements included in this news release should
not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are disclosed in or implied by such
forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors
set forth under "Forward-Looking Statements" and "Risk Factors" in the Company's annual
information form dated
April 26, 2024
, and other disclosure documents available on the
Company's profile at
www.sedarplus.ca
. Silver Mountain undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as may be required by law. New factors emerge from time to time, and it is not
possible for Silver Mountain to predict all of them or assess the impact of each such factor or the
extent to which any factor, or combination of factors, may cause results to differ materially from
those contained in any forward-looking statement. Any forward-looking statements contained in this
news release are expressly qualified in their entirety by this cautionary statement.
SOURCE
Silver Mountain Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/May2024/08/c9992.html
%SEDAR: 00052252E
For further information:
Alvaro Espinoza, Chief Executive Officer, Silver Mountain Resources Inc.,
82 Richmond Street East, Toronto, ON M5C 1P1, [email protected]; www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 08:10e 08-MAY-24