GR Silver Mining Announces Debt Settlement
GR Silver Mining Announces Debt Settlement
VANCOUVER, BC
,
Dec. 20, 2023
/CNW/ -
GR Silver Mining Ltd.
("GR Silver Mining" or the
"Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – The Company announces
that further to its press release of
December 8, 2023
, it has now issued an aggregate of 1,343,891
common shares at a deemed price of
$0.075
per share to settle aggregate debt of
$100,792
outstanding as at
October 31, 2023
.
Directors and officers of the Company (the "
Insiders
") participated in the debt settlement
transactions and received an aggregate of 788,879 shares in consideration for settlement of an
aggregate
$59,166
debt. Participation by the Insiders is considered a "related party transaction"
pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal
valuation and minority shareholder approval in connection with Insiders' participation in reliance of
sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that the Insiders' participation in
the debt settlement transactions does not exceed 25% of the fair market value of the Company's
market capitalization.
All shares issued in relation to these debt settlements are subject to a hold period expiring
April 21,
2024
, in accordance with applicable securities laws and the policies of the TSX-V.
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
Plomosas Project, which includes the integrated San Marcial Area and former Plomosas Mine. 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, Chair & 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:
Eric Zaunscherb, Telephone: +1.647.293.8457, Email:
CO: GR Silver Mining Ltd.
CNW 21:11e 20-DEC-23