Silver Dollar Closes $10.5 Million Non-Brokered Private Placement
FOR IMMEDIATE RELEASE
Silver Dollar Closes $10.5 Million Non-Brokered
Private Placement
Participants include Eric Sprott and First Majestic Silver Corp.
VANCOUVER, BC – September 17, 2020 – Silver Dollar Resources Inc. (CSE: SLV) (“Silver
Dollar” or the “Company”) has completed its previously announced non-brokered private
placement of 7,500,000 common shares at a price of $1.40 per share to raise $10.5 million in gross
proceeds (the “Offering”).
Mr. Eric Sprott subscribed for 4,621,241 shares or $6,469,737 o f the Offering. This investment
results in Mr. Sprott holding approximately 19.9 percent of Silver Dollar’s issued and outstanding
common shares calculated on a partially diluted basis.
First Majestic Silver Corp. (“First Majestic”) subscribed for 5 00,000 shares or $700,000 of the
Offering. This investment results in First Majestic holding app roximately 16.4 percent of Silver
Dollar’s issued and outstanding common shares.
“We would like to thank Eric Sprott, First Majestic, and our existing shareholders for their support
and welcome several new investors," said Mike Romanik, president of Silver Dollar. “This funding
positions us to pursue our explorations programs at both our Red Lake properties and hit the ground
running in Mexico where we have already identified numerous pri ority drill targets at the La Joya
Silver Project.”
The Company paid finders’ fees of $173,191 and 10,150 shares at $1.40 per share in respect of the
Offering. All securities issued pursuant to this Offering will have a hold period expiring four
months after the closing date.
The net proceeds of this financing will be used to fund the Company’s exploration and development
work on its projects in Red Lake, Ontario, Canada and Durango, Mexico, and for general working
capital purposes.
Silver Dollar relied on subsections 5.5(c) and 5.7(1)(a) of Multilateral Instrument 61-101 to exempt
the offering from the requirements for a formal valuation and m inority shareholder approval. To
the Company’s knowledge, neither it nor the purchasers have kno wledge of any material
information concerning the Company or its securities that has not been generally disclosed.
About Silver Dollar Resources Inc.
Silver Dollar Resources Inc. is a mineral exploration company f ocused on creating shareholder
value by finding and developing economic precious and base metal deposits. Having completed its
initial public offering in May 2020, the Company trades on the Canadian Securities Exchange under
the symbol "SLV". Silver Dollar’s projects are located in two o f the prolific mining jurisdictions
in the world and include the adva nced exploration/development s tage La Joya Silver Project in
Durango, Mexico, and the discovery-stage Pakwash Lake and the L onglegged Lake properties in
the Red Lake Mining District of Ontario, Canada. The Company has an aggressive growth strategy
and is actively reviewing projec ts in mining-friendly jurisdict ions internationally for potential
acquisition.
For additional information, you ca n visit our website by clicki ng here, download our latest
presentation by clicking here and you can follow us on Twitter by clicking here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik,
President, CEO & Director
Direct line: (204) 724-0613
Email: [email protected]
Silver Dollar Resources Inc.
108 – 800 Kelly Road, Suite 416
Victoria, BC, V9B 6J9