Silver One Announces Private Placement Financing
Silver One Announces Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2019) -
Silver One Resources Inc. (TSXV: SVE) (OTCQB: SLVRF)
(FSE: BRK1)
("Silver One") is pleased to announce that it will conduct a non-brokered private placement of up 20,000,000 units
("Units") at a price of $0.125 per Unit for gross proceeds of up to $2,500,000 (the "Offering").
Each Unit will be comprised of one common share and one-half of one common share purchase warrant ("Warrant"), with each
whole Warrant entitling the holder to purchase one additional common share at $0.20 per share for a period of three (3) years
from the date of issue.
All securities issued in connection with the Offering will be subject to a four
month statutory hold period. A finder's fee may be
payable on the private placement.
Proceeds of the financing will be used for exploration activities and ongoing metallurgical studies on the historical mine at the
Candelaria Silver Project, additional exploration activities to further define the high-grade silver-gold-copper vein systems at the
Cherokee Project, and for working capital purposes.
Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
About Silver One
Silver One is focused on the exploration and development of quality silver projects.
The Company holds an option to acquire a
100%-interest in its flagship project, the past-producing Candelaria Mine located in Nevada. The Company is currently
conducting metallurgical tests to determine the best methods for and potential recoveries of silver from the historic leach pads.
Additional opportunities lie in previously identified high-grade silver intercepts down-dip and potentially increasing the
substantive silver mineralization along-strike from the two past-producing open pits.
The Company has staked 636 lode claims and entered into a Lease/Purchase Agreement to acquire five patented claims on its
Cherokee project located in Lincoln County, Nevada, host to multiple silver-copper-gold vein systems,
traced to date for over 11
km along-strike.
In addition, the Company also holds a 100% interest in three significant silver assets located in Mexico - Peñasco Quemado,
Sonora; La Frazada, Nayarit; and Pluton, Durango, acquired from First Mining Gold, one of the Company's largest shareholders.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey
Phone: (720) 273-6224
Email:
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of
this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not
guarantees of future performance. Silver One cautions that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are beyond Silver One's control. Such factors
include, among other things: risks and uncertainties relating to Silver One's limited operating history, ability to obtain sufficient
financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to
carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future
events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied
in the forward-looking information. Except as required under applicable securities legislation, Silver One undertakes no
obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED
IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITYFOR THE ADEQUACY OR
ACCURACYOF THIS RELEASE.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/46047