Kootenay Silver Announces Increase in Non- Brokered Private Placement to $3.5 Million
Kootenay Silver Announces Increase in Non-
Brokered Private Placement to $3.5 Million
/NOT FOR DISSEMINATION IN OR INTO
THE UNITED STATES
OR FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES/
VANCOUVER, BC
,
Feb. 5, 2024
/CNW/ - Kootenay Silver Inc. (the "
Company
") (TSXV: KTN) is
pleased to announce that the Company has increased the size of its previously announced non-
brokered private placement (as detailed in the Company's news releases dated
February 1, 2024
)
(the "
Offering
") from aggregate gross proceeds of up to
$2,500,000
to up to
$3,500,000
to the
Company, at a price of
$0.75
per unit (each, a "
Unit
").
Each Unit shall be comprised of one common share of the Company (a "
Common Share
") and one-
half of one Common Share purchase warrant of the Company (each whole warrant, a "
Warrant
").
Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of
$1.10
for a period of 24 months from closing of the Offering.
The net proceeds from the Offering will be used for exploration activities, property commitments on
the Company's projects, working capital and general corporate purposes.
The Offering is anticipated to close on or about the week of
February 16, 2024
("
Closing
"), or such
later date as the Company may determine. The Closing is subject to certain conditions including, but
not limited to, the receipt of all necessary regulatory and other approvals, including the approval of
the TSX Venture Exchange. The Units to be issued under the Offering will have a hold period of four
months and one day from Closing.
In connection with the Offering, the Company has appointed Research Capital Corporation as the
exclusive finder and the Company will pay finders' fees (the "
Finder's Fee
") in cash and finder's
warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in
the United States of America
. The securities
described herein have not been and will not be registered under the United States Securities Act of
1933, as amended (the "
1933 Act
") or any state securities laws and may not be offered or sold
within
the United States
or to, or for account or benefit of, U.S. Persons (as defined in Regulation S
under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an
exemption from such registration requirements is available.
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.
Disclaimer for Forward-Looking Information
This news release includes certain statements and information that constitute forward-looking
information within the meaning of applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts are forward-looking statements. Such forward-
looking statements and forward-looking information specifically include, but are not limited to,
statements that relate to the completion of the Offering and the timing and pricing in respect
thereof, the use of proceeds of the Offering, insider participation; and timely receipt of all
necessary approvals, including any requisite approval of the TSX Venture Exchange.
Statements contained in this release that are not historical facts are forward-looking statements
that involve various risks and uncertainty affecting the business of the Company. Such statements
can generally, but not always, be identified by words such as "expects", "plans", "anticipates",
"intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or "should" occur. All statements that
describe the Company's plans relating to operations and potential strategic opportunities are
forward-looking statements under applicable securities laws. These statements address future
events and conditions and are reliant on assumptions made by the Company's management, and
so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with
Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions
underlying the forward-looking information, actual results could materially differ from those
currently projected, and there is no representation by the Company that the actual results realized
in the future will be the same in whole or in part as those presented herein. the Company disclaims
any intent or obligation to update forward-looking statements or information except as required by
law. Readers are referred to the additional information regarding the Company's business
contained in the Company's reports filed with the securities regulatory authorities in
Canada
.
Although the Company has attempted to identify important factors that could cause actual actions,
events, or results to differ materially from those described in forward-looking statements, there
may be other factors that could cause actions, events or results not to be as anticipated, estimated
or intended. For more information on the Company and the risks and challenges of its business,
investors should review the Company's filings that are available at
www.sedar.com
.
The Company provides no assurance that forward-looking statements and information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
such statements or information. Accordingly, readers should not place undue reliance on forward-
looking statements or information. The Company does not undertake to update any for-ward
looking statements, other than as required by law.
SOURCE
Kootenay Silver Inc.
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%SEDAR: 00016508E
For further information:
James McDonald, CEO and President at 403-880-6016; Ken Berry,
Chairman at 604-601-5652; 1-888-601-5650 or visit: www.kootenaysilver.com
CO: Kootenay Silver Inc.
CNW 16:45e 05-FEB-24