Silver North Closes Private Placement Tranche
Trading Symbol (TSX-V: SNAG)
410-325 Howe Street
Vancouver, British Columbia
Canada V6C 1Z7
Tel: (604) 687 3520
Fax: 1-888-889-4874
www.silvernorthres.com
FOR IMMEDIATE RELEASE
NR 23-13
Silver North Closes Private Placement Tranche
Not for distribution to United States Newswire Services or for dissemination in the United States
Vancouver, BC, Decem ber 27, 2023 – Silver North Resources Ltd. (TSX-V: SNAG,
OTCQB: TARSF) (“Silver North” or the “Company”) is pleased to report that it has closed the
second and final tranche of the financing announced on August 29, 2023 and October 19,
2023.
For the two tranches, t he Company raised a total of $1,000 ,000 including $540,000 from the
sale of “Units” at $0.20 per Unit, and $460,000 from the sale of “Flow Through shares” at $0.20
per Flow Through Share for a total of 5,000,000 shares and 1,350,000 warrants issued.
Each $0.20 Unit is comprised of one common share and one half of a common share purchase
warrant. Each full common share purchase warrant entitles the holder to purchase one
common share for $0.30 per common share for a period of three years from closing . The
common share purchase warrants are non- transferable. All securities are subject to a four -
month hold from the dates of closing.
Each Flow Through share was issued at $0.20 and the proceeds will be spent on Canadian
Exploration Expenditures as defined in the Income Tax Act, Canada. The proceeds from the
Units financing are to fund various activities including marketing of projects, corporate
overhead costs and project generation.
A director and an officer of the Company purchased or acquired direction and control over a
total of 3 70,000 Units and 60,000 Flow Through shares under the private placement. The
placement to those persons constitutes a “related party transaction” within the meaning of TSX
Venture Exchange Policy 5.9 and Multilateral Instrument 61- 101 -Protection of Minority
Security Holders in Special Transactions (“MI 61 -101”) adopted in the Policy. The Company
has relied on exemptions from the formal valuation and minority shareholder approval
requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of
related party participation in the placement as neither the fair market value (as det ermined
under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the
transaction, insofar as it involved the related parties, exceeded 25% of the Company's market
capitalization (as determined under MI 61-101).
Finder’s fees of $24,640 in cash and 123,200 in finder’s warrants were paid to eligible parties.
Each finder’s warrant entitles the holder to purchase one common share for $0.20 per common
share for a period of three years from closing. All securities are subject to a four -month hold
from the dates of closing.
This news release does not constitute an offer of securities for sale in the United States. The
securities being offered have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and such securities may not be offered or sold within the
United States absent U.S. registration or an applicable exemption from U.S. registration
requirements.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silver project and the Tim silver
project (under option to Coeur Mining, Inc.). Silver North also holds gold and base metal
projects in Yukon Territory, Colorado and Nevada and is actively seeking partners for them.
Silver North also holds certain royalties on projects in North and South America.
The Company is listed on the TSX Venture Exchange under the symbol “SNAG” and trades on
the OTCQB market in the US under the symbol “TARSF”.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
Twitter: https://twitter.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING
STATEMENTS. FORWARD -LOOKING STATEMENTS ARE BASED ON NUMEROUS
ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES
INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL
RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD -
LOOKING STATEMENTS.