Silver One Closes $5 Million Private Placement Financing
Silver One Closes $5 Million Private
Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - April 24, 2023) - Silver One Inc. (TSXV: SVE) (OTCQX:
SLVRF) (FSE: BRK1) "Silver One" or the "Company") is pleased to announce that it has closed its
previously announced non-brokered private placement financing (see news release dated April 17,
2023) of 23,809,524 common shares of the Company (the "Shares") at a price of $0.21 per Share for
aggregate gross proceeds of $5,000,000 (the "Offering").
Greg Crowe, President and CEO commented: "This is the fourth time Eric Sprott has taken a position
in the Company. We are very appreciative of his ongoing support. With the funds received under the
Offering, the Company is well positioned to further advance its silver assets in Nevada and Arizona."
The Shares issued under the Offering will be subject to restrictions on resale for a period of four months
and a day pursuant to applicable securities law, until August 22, 2023. The Company paid finder's fee of
$7,860.07 to Canaccord Genuity Corp.
As previously announced, the net proceeds of the Offering will be used to satisfy the Company's bond
obligations under its option agreement to acquire the Candelaria Project, various work programs,
including exploration and maintenance fees, of the Company's mineral properties and general working
capital purposes.
Once the bond obligations are satisfied, Silver One will have a 100% interest in the
Candelaria project, with no royalties back to SSR Mining.
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be
any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be
unlawful, including the United States of America. The securities being offered as part of the Offering have
not been, and will not be, registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws, and accordingly may not be offered or sold in the
United States except in compliance with the registration requirements of the U.S. Securities Act and any
applicable state securities laws, or pursuant to available exemptions therefrom.
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.
Potential reprocessing of silver from the historic leach pads at Candelaria provides an
opportunity for possible near-term production.
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.
Silver One holds an option to acquire a 100% interest in the Silver Phoenix Project. The Silver Phoenix
Project is a very high-grade native silver prospect that lies within the "Arizona Silver Belt", immediately
adjacent to the prolific copper producing area of Globe, Arizona.
For more information, please contact:
Silver One Resources Inc.
Gary Lindsey - VP, Investor Relations
Phone: 604-974-5274
Mobile:
(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 the
Candelaria Project, 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
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/163570