Canada Silver Closes 1st Tranche of Private Placement
Canada Silver Closes 1st Tranche of Private Placement
November 6, 2023 – Coquitlam, BC, Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the "Company" or "Canada Silver Cobalt") announces that further to its news release dated November
2, 2023 the Company has closed a 1 st tranche of a non brokered private placement by way of issuing
10,000,000 Quebec flow-through units (“QFT Units”) at $0.04 per QFT Unit, and 12,500,000 flow-through
units (“FT Units) at $0.04 per FT Unit for total gross proceeds of $900,000.
Each QFT Unit and FT Unit is comprised of one common share (“Share”) and one half of one share purchase
warrant (the “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one additional
Share of the Company at an exercise price of $0.08 per share, for a period of two years from closing, subject
to Exchange approval.
The QFT proceeds will be used for drilling and exploration work on the Company’s Lowney-Lac Edouard
property, located in central Quebec. The FT proceeds will be used for drilling and exploration purposes on
the Company’s Castle East Silver Property, located in Ontario.
GloRes Securities Inc., the sole finder for the 1 st tranche closing was paid $63,000 in cash and 1,575,000
finder’s warrants (“Finder Warrant”). Each Finder Warrant will entitle the Finder to purchase one Share of
the Company at an exercise price of $0.05 per Share, for a period of two years from closing. The finder’s
fees paid in connection with the private placement are subject to Exchange approval.
All securities issued in connection with the private placement will be subject to a four-month and a day hold
period expiring on March 7, 2024 in accordance with applicable Canadian Securities Laws.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East
located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-
class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000 m drill
program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101
resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising
very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from
two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately
400 meters. Note that mineral resources that are not mineral reserves and do not have demonstrated
economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource
estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for
Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of
July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 16,000-metre drill program on the Graal property; (2) the prospective 1,000-hectare
Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
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it is exploring; and (3) lithium property – 230 square kilometers of greenfield exploration ground focussed
along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario contiguous
to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle property feature strong
exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich
gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary
hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as
nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a
Canadian leader in the silver-cobalt space. More information is available at
www.canadasilvercobaltworks.com.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Canada Silver Cobalt Works Inc. (the “Company”) and
Coniagas Battery Metals Inc. (“Coniagas”) which include, but are not limited to, comments that involve future events and
conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address
the proposed distribution of common shares and common share purchase warrants of Coniagas to the shareholders of the
Company, the proposed private placement by Coniagas and proposed listing of Coniagas on a Canadian stock exchange, resource
potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of
funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those statements. General
business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed
discussion of the risk factors in connection with the proposed plan of arrangement will be set out in the Company’s management
information circular, which will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s
website.