Kootenay Silver Announces Increase of Size of Private Placement
KOOTENAY SILVER ANNOUNCES INCREASE
OF SIZE OF PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
VANCOUVER, BC
,
Nov. 2, 2022
/CNW/ - Kootenay Silver Inc. ("
Kootenay
" or the "
Company
")
(TSXV: KTN), is pleased to announce that the Company has increased the size of its previously
announced best efforts private placement (as detailed in the Company's news releases dated
October 18, 2022
and
October 24, 2022
) (the "
Offering
") from
$4,000,000
to
$4,347,826
from the
sale of up to 48,309,179 units of the Company (the "
Units
") at a price of
$0.09
per Unit (the
"
Offering Price
").
The Offering is being led by Research Capital Corporation, as the lead agent and sole bookrunner,
on behalf of a syndicate of agents, including Red Cloud Securities Inc. (collectively, the "
Agents
").
The Agents have been granted an option (the "
Agents' Option
") to offer for sale an additional 15%
of the number of Units sold in the Offering at the Offering Price. If the Agents' Option is exercised in
full, the total gross proceeds to the Company will be up to
$5,000,000
.
All other terms of the Offering remain unchanged from the terms described in the Company's news
release dated
October 24, 2022
. The increase in size of the Offering is subject to the approval of
the TSX Venture Exchange.
The Offering is scheduled to close on or about
November 8, 2022
, or such date as agreed upon
between the Company and the Agents (the "
Closing
") and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals including the approval of the Exchange. The
Units to be issued under the Offering will have a hold period of four months and one day from
Closing.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
U.S. Securities Act
"), or any state securities laws, and
accordingly, may not be offered or sold within
the United States
except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or
may occur in the future, including the expectation that the Offering will close in the timeframe and on
the terms as anticipated by management and that the Offering, including the increase of the size of
the Offering, will be approved by the TSX Venture Exchange. Generally, but not always, forward-
looking information and statements can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes"
or the negative connotation thereof or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved"
or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the Company will complete Offering in the timeframe and on the terms as
anticipated by management. Although the assumptions made by the Company in providing forward-
looking information or making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such assumptions will prove to be accurate
and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company's plans or
expectations include risks relating to the failure to complete the Offering in the timeframe and on the
terms as anticipated by management, market conditions and timeliness regulatory approvals.
Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in the forward-looking information or implied by forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that forward-looking information and statements will prove
to be accurate, as actual results and future events could differ materially from those anticipated,
estimated or intended. Accordingly, readers should not place undue reliance on forward-looking
statements or information. These forward looking statements are made as of the date of this press
release, and, other than as required by applicable securities laws, the Company disclaims any intent
or obligation to update publicly any forward looking statements, whether as a result of new
information, future events or results or otherwise.
SOURCE
Kootenay Silver Inc.
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For further information:
please contact: James McDonald, CEO and President at 403-880-6016
or visit: www.kootenaysilver.com
CO: Kootenay Silver Inc.
CNW 09:00e 02-NOV-22