Highlander Silver Completes $3 Million Private Placement
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HIGHLANDER SILVER COMPLETES $3 MILLION PRIVATE PLACEMENT
October 23, 2023 - Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV)
(the “Company” or “ Highlander Silver”) is pleased to announce that, further to its news
release dated October 3, 2023, it has completed a $3 million offering (the “Offering”) of
30,000,000 units (the “Units”) of the Company . Each Unit is comprised of one common
share (a “Share”) and one warrant exercisable for one additional Share at a price of $0.15
per Share for a period of 3 years from the date of issuance.
The Company plans to use the net proceeds for permitting and subsequent drilling at the La
Estrella project, ongoing assessment of acquisition opportunities and for general corporate
purposes.
Two insiders of the Company subscribed for 15,500,000 Units under the Offering for a total
value of $1,55 0,000. Each of the insiders ’ participation constitutes a “related party
transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions
from the formal valuation requirements contained in section 5.5(b) of MI 61 -101 and the
minority shareholder approval requirement contained in section 5.7(1)(b) of MI 61- 101, as
the Company is not listed on specified markets and the fair market value of the securities to
be distributed to the related parties does not exceed $2,500,000. The Company did not file
a material change report in respect of the related party transactions at least 21 days before
the closing of the Offering, as the details of the participation by the related parties were not
settled until shortly prior to closing of the Offering.
The securities issued in the Offering are subject to a statutory hold period of four months
from the date of issuance.
About Highlander Silver
Highlander Silver Corp. is a mineral explorat ion company focused on the exploration of
silver-polymetallic projects in central Peru, as well as targeting the acquisition of additional
mineral projects by leveraging the team’s significant experience in Peru and South America
more widely. Additional information about Highlander Silver and its mineral projects can be
viewed on the Company’s SEDAR + profile at www.sedar plus.ca and its website at
www.highlandersilver.com
For further information, please contact:
David Fincham
Chief Executive Officer
Highlander Silver Corp.
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(604) 283 7630
Neither the C SE nor the Canadian Investment Regulatory Organization accepts
responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Certain information contained in this news release constitutes “forward- looking information” under
Canadian securities legislation. This includes, but is not limited to, information or statements with
respect to the use of proceeds. Such forward looking information or statements can be identified by
the use of words such as “anticipates”, “plans”, “suggests”, “targets” or “prospects” or variations
(including negative variations) of such words and phrases, or state that certain actions, events or
results “will” be taken, occur, or be achieved. Forwar d-looking information involves known and
unknown risks, uncertainties, and other factors which may cause the actual results, performance, or
achievements of the Company and/or its subsidiaries to be materially different from any future results,
performance, or achievements expressed or implied by the forward-looking information. Such factors
include, among others, general business, economic, competitive, political and social uncertainties,
the actual results of current exploration activities, changes in project parameters as plans continue to
be refined, accident, labour disputes and other risks of the mining industry, and delays in obtaining
governmental approvals or financing. Although the Company has attempted to identify important
factors that could caus e actual actions, events or results to differ materially from those described in
forward-looking information, there may be other factors that could cause actions, events or results to
differ from those anticipated, estimated or intended. Forward- looking information contained herein
are made as of the date of this news release. There can be no assurance that forward- looking
information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. The Company undertakes no obligation to update forward-
looking information if circumstances or management’s estimates or opinions should change, except
as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue
reliance on forward-looking information.