Southern Silver Provides Corporate Update
Southern Silver Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2020) -
Southern Silver Exploration
Corp. (TSXV: SSV) (OTCQB: SSVFF) (Santiago: SSVCL) ("Southern Silver" or the "Company")
reported that the following directors were re-elected at its annual general meeting held on September 4,
2020: Lawrence Page, Q.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan,
Peter Cheesbrough, Gina Jones and Donald Head.
In addition, the shareholders re-appointed Smythe
LLP, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver's rolling
incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved
for issuance under the plan.
The plan is subject to TSX Venture Exchange acceptance.
Shareholders also approved the purchase of Electrum Global Holdings L.P.'s 60% ownership interest in
Southern Silver Holdings Limited and indirect 60% interest in the Cerro Las Minitas Property located in
Durango, Mexico. More details of this transaction are included in the Company's news release of June
22, 2020 as well as in the information circular for the annual general meeting filed on SEDAR. This
transaction is subject to TSX Venture Exchange acceptance and is expected to close shortly.
At the annual general meeting, shareholders also resolved to adopt a Shareholder Rights Plan to ensure
the fair treatment of all Southern Silver shareholders in the event of an unsolicited take-over bid for the
outstanding common shares of the Company. In the event that a take-over bid should occur, the
Shareholder Rights Plan provides a mechanism to ensure that shareholders have adequate time to
properly evaluate and assess it without facing undue pressure or coercion. The Shareholder Rights Plan
also provides the board of directors with additional time to consider any take-over bid and, if applicable,
to explore alternative transactions in order to maximize shareholder value.
Accordingly, the Shareholder
Rights Plan is not designed to prevent take-over bids that treat the Company's shareholders fairly. A
copy of the Shareholder Rights Plan Agreement will be available under Southern Silver's profile on
SEDAR at
www.sedar.com
. Reference should be made to the full text of the plan for the details of its
provisions. The Shareholder Rights Plan is subject to TSX Venture Exchange acceptance.
The following officers were re-appointed subsequent to the annual general meeting: Lawrence Page,
Q.C. as President, Robert Macdonald as Vice President, Exploration, Graham Thatcher as Chief
Financial Officer, and Arie Page as Corporate Secretary.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is a precious metal exploration and development company with a
current focus on the discovery of world-class mineral deposits in north-central Mexico and the southern
USA. Our specific emphasis is on the 100% owned Cerro Las Minitas, silver-lead-zinc project, located
in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as
Penasquito, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced
technical, operational and transactional professionals to support our exploration efforts in developing the
world class Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our property
portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA. The
Company engages in the acquisition, exploration and development either directly or through joint-venture
relationships in mineral properties in major jurisdictions.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at
southernsilverexploration.com
or contact
us at 604.641.2759 or by email at
.
Neither 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.
This news release may contain forward-looking statements. Forward-looking statements address
future events and conditions and therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements. Factors that could cause actual
results to differ materially from those in forward-looking statements include the timing and receipt of
government and regulatory approvals, and continued availability of capital and financing and general
economic, market or business conditions.
Southern Silver Exploration Corp. does not assume any
obligation to update or revise its forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/63515