GR Silver Announces Receipt of Final Prospectus and Automatic Exercise of Special Warrants into Units
GR Silver Announces Receipt of Final
Prospectus and Automatic Exercise of Special
Warrants into Units
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
May 31, 2022
/CNW/ -
GR Silver Mining Ltd. ("GR Silver Mining"
or the
"Company")
(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) is pleased to report that it has
filed its final short form prospectus dated
May 30, 2022
(the "
Prospectus
") and obtained a receipt
(the "
Final Receipt
") with the securities regulatory authorities in the Provinces of
British Columbia
,
Alberta
,
Manitoba
and Ontario. The Prospectus qualifies the distribution of an aggregate of
27,236,755 units of the Company (each a "
Unit
"), which are issuable for no additional consideration
upon the deemed exercise of 27,236,755 special warrants (each a "
Special Warrant
") which were
sold pursuant to a brokered private placement offering (the "
Offering
") completed by the Company
on
March 29, 2022
(the "
Closing Date
"). The Special Warrants were sold at a price of
$0.27
per
Special Warrant for aggregate gross proceeds of
$7,353,923.85
. The Offering was conducted by
Beacon Securities Limited and Red Cloud Securities Inc., as co-lead agents, and Echelon Wealth
Partners Inc. (collectively, the "
Agents
").
In accordance with the terms of a special warrant indenture dated
March 29, 2022
, between the
Company and TSX Trust Company, as special warrant agent, each Special Warrant will be
automatically exercised into one Unit on
June 6, 2022
, being the fifth business day after the date of
obtaining the Final Receipt.
Each Unit is comprised of one common share in the capital of the Company (a "
Share
") and one-half
of one common share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant is
exercisable to acquire one Share for a period of 36 months following the Closing Date at an exercise
price of
$0.37
per Share. The Warrants are subject to the terms of a warrant indenture dated
March
29, 2022
, between the Company and TSX Trust Company, as warrant agent.
The Prospectus also qualifies the distribution of 1,566,410 broker warrants underlying the special
broker warrants issued to the Agents on the Closing Date (the "
Broker Warrants
"). The Broker
Warrants will be issued on
June 6, 2022
and each Broker Warrant is exercisable for one Share at a
price of
$0.27
per Share for a period of 36 months following the Closing Date.
For more information on the Offering, please refer to the Prospectus, as well as the Company's
press release dated
March 29, 2022
, available on the Company's profile on SEDAR at
www.sedar.com
.
The securities offered have not been registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in
the United States
absent registration or an applicable
exemption from the registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in
which such offer, solicitation or sale would be unlawful.
Qualified Person
The scientific and technical data contained in this News Release related to the exploration program
were reviewed and/or prepared under the supervision of
Marcio Fonseca
, P. Geo. He has approved
the disclosure herein.
About GR Silver Mining Ltd
.
GR Silver Mining is a Canadian-based,
Mexico
-focused junior mineral exploration company engaged
in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern
edge of the Rosario Mining District, in the southeast of Sinaloa State,
Mexico
. GR Silver Mining
controls 100% of two past producer precious metal underground and open pit mines, within the
expanded Plomosas Project, which includes the integrated San Marcial Area and
La Trinidad
acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the
Company holds 734 km
2
of concessions containing several structural corridors totaling over 75 km in
strike length.
GR Silver Mining Ltd.
Eric Zaunscherb
Chairman & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on the beliefs of management and
reflect the Company's current expectations. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Such statements and information reflect
the current view of the Company. Risks and uncertainties may cause actual results to differ
materially from those contemplated in those forward-looking statements and information. By their
nature, forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events,
to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements.
Neither the 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 press release.
SOURCE
GR Silver Mining Ltd.
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For further information:
Brenda Dayton, VP Corporate Communications, Telephone:
+1.604.558.6248, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 14:50e 31-MAY-22