Santacruz Announces $3.0 Million Private Placement
TSX.V: SCZ
FSE: 1SZ
February 13, 2020
Santacruz Announces $3.0 Million Private Placement
Not for distribution to United States newswire services or for dissemination in th e United States
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces
that it will conduct a non-brokered private placement (the "Private Placement") of up to 25,000,000 units (the
“Units”) at a purchase price of C$0.12 per Unit, for gross proceeds t o the Company of up to C$3,000,000.
Each Unit will consist of one common share of the Company and one common share purchase warrant (a
“Warrant”). Each Warrant will entitle the holder to acquire one common share o f the Company at a price of
C$0.18 per share for a period of 12 months following the closing of the Private Placement. The Company may
pay a finder’s fee to arm’s -length finders in connection with the issue and sale of any or all of the securities
under the Private Placement. The finder’s fee sha ll consist of not more than a 5% cash payment calculated
with reference to the gross proceeds of the Private Placement in relation to subscribers introduced by any
particular finder.
The proceeds from the Private Placement are expected to be used by the Company for general working
capital and corporate purposes. All securities issued will be subject to a four month hold period , in addition to
such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.
Closing of the Private Placement is anticipated to occur in one or more tranches on or before February 28,
2020 and is subject to the receipt of applicable regulatory approvals including a pproval of the TSX Venture
Exchange.
This press release shall not consti tute an offer to sell or solicitation of an offer to buy the securities in
any jurisdiction. The securities will not be and have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States absent r egistration or
applicable exemption from the registration requirements.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing silver p rojects (Rosario and Veta Grande)
and two exploration properties, the Minillas property and Zacatecas properties. The Company also owns 100%
of Carrizal Mining S.A. de C.V. Carrizal Mining is a private Mexican mining company, the principal asset of
which is a 20% working interest in the Company’s Veta Grande Project. Carrizal Mining also has the right to
operate the Zimapan Mine until December 31, 2020 under a mining lease agreement.
The Company is managed by a technical team of professionals with prove n track records in developing,
operating and discovering silver mines in Mexico. Our corporate objective is to become a mid -tier silver
producer.
‘signed’
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director
For further information please contact:
Arturo Prestamo
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: (604) 569-1609
Neither the TSX Venture Exchange nor its Regulation Services Provider (as th at term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking information
Certain statements contained in this news release constitute "forward -looking information" as such term is
used in applicable Canadian securities laws , including statements relating to the Company's plans to conduct
the Private Placement. Forward-looking information is based on plans, expectations and estimates of
management at the date the info rmation is provided and is subject to certain factors and assumptions. I n
making the forward -looking statements included in this news release, the Company has applied several
material assumptions, including but not limited to, that the Company's financial condition and development
plans do not change as a result of unforeseen events, that the Company will receive all required regulatory
approvals, and that future metal prices and the demand and market outlook for metals will remain stable or
improve. Forw ard-looking information is subject to a variety of risks and uncertaintie s and other factors that
could cause plans, estimates and actual results to vary materially from those projected in such forward -looking
information. Factors that could cause the for ward-looking information in this news release to change or to be
inaccurate include, but are not limited to : failure of the Private Placement to be arranged on the proposed
terms or at all; unanticipated delays in obtaining or failure to obtain regulatory or stock exchange approvals;
general economic, market or business conditi ons; the risk that any of the assumptions referred to prove not to
be valid or reliable, which could result in lower revenue, higher cost, or lower production levels; delays and/or
cessation in planned work; changes in the Company's financial condition and development plans; risks
associated with the interpretation of data (including in respect of the third party mineralized material) regarding
the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with th e
Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and
development activities and to the Company as set forth in the Company's continuous disclosure filings filed
under the Company's profile at www.sedar.com. There can be no assurance that any forward -looking
information will prove to be accurate, as actual result s and future events could differ materially from those
anticipated in such statements. Accordingly, the r eader should not place any undue reliance on forward -
looking information or statements. The Company undertakes no obligation to update forward -looking
information or statements, other than as required by applicable law.