Kootenay Silver Announces Decrease IN Holdings IN Aztec Minerals Corp.
KOOTENAY SILVER ANNOUNCES DECREASE IN HOLDINGS
IN AZTEC MINERALS CORP.
VANCOUVER, BC
,
May 8, 2023
/CNW/ - Kootenay Silver Inc. ("
Kootenay
" or the "
Company
") (TSXV: KTN) announces that on
May 5, 2023, Kootenay sold common shares (the "
Aztec Shares
") of Aztec Minerals Corp. ("
Aztec
") in several market transactions.
Prior to the sale of the Aztec Shares, Kootenay beneficially owned and had control over approximately 11.85% of the outstanding
Aztec Shares. As a result of the disposition, Kootenay's ownership of the Aztec Shares decreased to 7,601,500 Aztec Shares,
representing approximately 8.02% on a non–diluted basis. As a result, Kootenay ceased to be an insider of Aztec. Total gross
consideration received by Kootenay was
$962,445
. Funds from the sale will be used for working capital purposes.
The Aztec Shares held by Kootenay were originally acquired for investment purposes only. Kootenay currently has no plans or
intentions that relate to, or would result in, any of the actions requiring disclosure under applicable early warning reporting
provisions. In accordance with applicable securities laws and the policies of the TSXV, Kootenay may, from time-to-time, acquire or
dispose of additional Aztec Shares in the open market or otherwise, depending on market conditions, the business and prospects of
Aztec, the financial requirements of Kootenay, and other relevant factors.
Aztec's head office is located at Suite #1610 – 777 Dunsmuir Street,
Vancouver, British Columbia
V7Y 1K4. A copy of the early
warning report with respect to the foregoing will appear on Aztec's profile on the System for Electronic Document Analysis and
Retrieval at
www.sedar.com
and may also be obtained by contacting the Company at the phone number below. The head office of
Kootenay is located at Suite 1125 – 595 Howe Street,
Vancouver, British Columbia
V6C 2T5.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the
Sierra Madre Region of
Mexico
. Supported by one of the largest junior portfolios of silver assets in
Mexico
, Kootenay continues to
provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current
silver resources, new discoveries and the near-term economic development of its priority silver projects located in prolific mining
districts in
Sonora
, State and Chihuahua, State,
Mexico
, respectively.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the contents of this news release.
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SOURCE
Kootenay Silver Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2023/08/c7826.html
%SEDAR: 00016508E
For further information:
James McDonald, CEO and President at 403-880-6016 or visit: www.kootenaysilver.com
CO: Kootenay Silver Inc.
CNW 07:00e 08-MAY-23