Silver Valley Metals Files for Final Approval to Close its Non-Brokered Private Placement Financing
Silver Valley Metals Files for Final Approval to Close its Non-Brokered
Private Placement Financing
Vancouver, British Columbia – August 1, 2023 – Silver Valley Metals Corp. (TSXV: SILV)
(OTCQB: SVMFF) (“Silver Valley” or the “Company”), is pleased to announce that it has filed
documents with the TSX Venture Exchange (the “Exchange”) for final approval to close its
previously announced (July 18, 2023) $0.10 common share, no warrant private placement
financing (the “Financing”), for aggregate gross proceeds of $685,874.10. On receipt of final
Exchange approval, the Company will issue 385,000 common shares which, together with the
6,473,741 common shares from the first tranche closing, results in 6,858,741 common shares being
issued to subscribers.
Proceeds from the Financing will be used for:
• Completing the phase 2 active exploration program at the Ranger-Page project in the Silver
Valley, north Idaho, USA; this includes a multi-kilometre trenching program, road
building, preparations for a future drill campaign in 2023, further field exploration
including additional geochemical surveys, detailed mapping, and 3D geological modeling.
• To maintain and advance its MexiCan lithium - sulphate of potash (Li-SOP) project /
deposit(s) in Mexico; project development planning; evaluating additional opportunities
related to lithium and potash exploration and development in Mexico; and lastly, to
continue its partnership negotiations for the lithium aspect of its deposit(s) with LitioMx,
the recently formalized national lithium company of Mexico.
• Project option payment for the Ranger-Page Project.
• General working capital.
The Financing has been effected with 3 insiders, for a total of 350,000 common shares for
$35,000.00, each insider subscription being a “related party transaction” as such term is defined
under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The
Company is relying on exemptions from the formal valuation requirement of MI -61-101
under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market
value of the transaction, insofar as it involves the interested party, is not more than 25% of
the Company’s market capitalization.
All securities issued pursuant to the Financing will be subject to a 4-month hold.
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About Silver Valley Metals Corp.:
Silver Valley Metals Corp. is a Canadian exploration company comprised of a group of
experienced exploration, mining, and financing specialists focused on the pursuit of mineral
discovery and development. We are focused on the advancement of strategic and precious mineral
properties including Lithium-Potash in Mexico and Silver-Zinc-Lead in northern Idaho, USA.
On behalf of the Board of Directors of Silver Valley Metals,
"Brandon Rook”
Brandon Rook, President & CEO, Director
For further information please contact us at:
604-800-4710
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates of amounts not yet
determinable. Any statements that express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not statements of historical fact and
may be "forward-looking statements." Forward-looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation: risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal
proceedings; political and regulatory risks associated with mining and exploration; risks related to
the maintenance of stock exchange listings; risks related to environmental regulation and liability;
the potential for delays in exploration or development activities or the completion of feasibility
studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill
results, the geology, grade and continuity of mineral deposits; risks related to the inherent
uncertainty of production and cost estimates and the potential for unexpected costs and expenses;
results of prefeasibility and feasibility studies, and the possibility that future exploration,
development or mining results will not be consistent with the Company's expectations; risks related
to commodity price fluctuations; and other risks and uncertainties related to the Company's
prospects, properties and business detailed elsewhere in the Company's disclosure record. Should
one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in forward-looking statements.
Investors are cautioned against attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances. Actual events or results
could differ materially from the Company's expectations or projections.