GR Silver Mining Announces Second & Final Tranche Closing of Non-Brokered Private Placement Financing
GR Silver Mining Announces Second & Final
Tranche Closing of Non-Brokered Private
Placement Financing
/Not for distribution to
United States
newswire services or for dissemination in
the United
States
./
VANCOUVER, BC
,
Oct. 13, 2023
/CNW/ -
GR Silver Mining Ltd.
("GR Silver Mining" or the
"Company")
(TSXV:
GRSL
) (OTCQB: GRSLF) (FRANKFURT: GPE)
– announces that it has now
completed the second and final tranche (the "
Second Tranche
") closing of its previously announced
non-brokered private placement. Under the Second Tranche, the Company has issued 2,500,000
units for gross proceeds of
$125,000
. No finder's fees were paid in connection with the Second
Tranche. All securities issued under the Second Tranche are subject to a hold period expiring
February 14, 2024
, in accordance with applicable securities laws and the policies of the TSX
Venture Exchange. Together with the first tranche closing announced
August 10, 2023
, the Company
has now raised a total of
$454,875
from the sale of 9,097,500 units.
A director and officer of the Company (the "
Insider
") participated in the Second Tranche and
purchased 300,000 Units for
$15,000
. Participation by the Insider in the private placement 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 the
Insider's participation in the private placement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101,
respectively, on the basis that participation in the Offering by the Insider did not exceed 25% of the
fair market value of the Company's market capitalization. The Company did not file a material
change report at least 21 days prior to the closing of the Offering, as the participation of the Insiders
had not been confirmed at that time.
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 of America
. The securities have not been and will not be registered
under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and
may not be offered or sold within
the United States
or to U.S. Persons (as defined in the 1933 Act)
unless registered under the 1933 Act and applicable state securities laws, or an exemption from
such registration is available.
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
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 07:30e 13-OCT-23