GR Silver Mining Announces up to $1 Million Private Placement Financing
GR Silver Mining Announces up to $1 Million
Private Placement Financing
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
VANCOUVER, BC
,
July 11, 2023
/CNW/ -
GR Silver Mining Ltd.
("GR Silver Mining" or the
"Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that it proposes
to undertake a non-brokered private placement of units (each, a "
Unit
"), at a purchase price of
$0.075
per Unit, to raise total gross proceeds of up to
$1 million
(the "
Offering
"). Each Unit will
consist of one common share of the Company and one-half (½) of one common share purchase
warrant. Each whole warrant will entitle the holder to purchase one common share of the Company
at a price of
$0.12
at any time on or before that date which is 24 months after the closing date of
the Offering.
The gross proceeds received from the sale of the Units will be used for advancement of studies on
the Company's Plomosas Project and for general working capital.
The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and
registration requirements of applicable securities legislation. The Company will pay finders' fees to
eligible finders in connection with the Offering, subject to compliance with applicable securities laws
and the policies of the TSXV.
All securities issued and sold under the Offering will be subject to a hold period expiring four months
and one day from their date of issuance. Completion of the Offering and the payment of any finders'
fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the
TSXV.
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 the Plomosas Project
The Plomosas Project, including the recent high-grade silver SE Area discovery in the San Marcial
Area, is an emerging high-grade silver district located in southern
Sinaloa, Mexico
. The Plomosas
Project, covering 43,187 ha, benefits from mine infrastructure, road access and existing permits,
associated with past-producing historical mining sites. The district contains intermediate to low
sulphidation epithermal silver and gold mineralization hosted in hydrothermal breccias and veins.
Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal
breccias in the San Marcial Area, including the SE Area discovery, where drilling incorporated into
the updated
March 2023
Plomosas Project mineral resource estimation highlighted an exploration
opportunity for continuous resource growth.
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 11-JUL-23