Norseman Silver Inc. Closes Financing
Norseman Silver Inc. Closes Financing
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – February 13, 2023 – Norseman Silver Inc. (TSXV:NOC) (“Norseman” or the
“Company”) is pleased to announce that, further to its press releases of January 17, 2023 and January 25,
2023, it has increased and closed its previously announced non-brokered private placement (the “Private
Placement”) of 7,500,000 units (each a “Unit”) at a price of $0. 10 per Unit for aggregate proceeds of
$750,000 to 7,800,000 Units for aggregate proceeds of $780,000.
Each Unit is comprised of one common share of the Company (each, a “ Share”) and one half of one
common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder
to purchase one additional common share in the capital of the Company at an exercise price of $0. 25 for
a period of 18 months from the date of issuance.
The process proceeds of the Private Placement will be used for exploration on Norseman’s projects in
Argentina and British Columbia, Canada, and for general working capital.
Finder’s fees of $ 26,800 cash and 268,000 Warrants have been paid in connection with the Private
Placement to qualified parties. The Warrants issued to the finders have an exercise price of $0. 25 for a
period of 18 months from the date of issuance.
All securities issued are subject to a statutory four month and one day hold period from the date of
issuance pursuant to applicable securities laws of Canada.
For further information, please contact:
Sean Hurd
Chief Executive Officer
T: 604 505-4554
This press 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, or any state securities laws and may not be offered or sold within the
United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the
United States Securities Act) unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes
certain "forward -looking statements" which are not comprised of historical facts. Forward looking
statements include estimates and statements that describe the Company’s future plans, objectives or
goals, including words to the effect that the Company or management expects a stated condition or result
to occur. Forward -looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently available
to the Company, the Company provides no assurance that actual results will meet management’s
expectations. Risks, uncertainties and other factors involved with forward -looking information could
cause actual events, results, performance, prospects and opp ortunities to differ materially from those
expressed or implied by such forward -looking information. Forward looking information in this news
release includes, but is not limited to, the Company’s objectives, goals or future plans, statements,
exploration results, potential mineralization, the estimation of mineral resources, exploration and mine
development plans, timing of the commencement of operations and estimates of market conditions.
Factors that could cause actual results to differ materially from such forward-looking information include,
but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, inability to fulfill the duty to
accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed
in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, capital and operating costs varying significantly from
estimates and the other risks involved in the mineral exploration and development industry, an inability
to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and
counteract the effects of COVID -19 on the business of the Company, including but not limited to the
effects of COVID -19 on the price of commodities, capital market conditions, restriction on labour and
international travel and supply chains, and those risks set out in the Company’s public documents filed on
SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward -
looking information in this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of t he date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward -looking information, whether as a result of new information,
future events or otherwise, other than as required by law.