Silver Viper Announces C$6 Million Private Placement
Silver Viper Announces C$6 Million Private
Placement
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TSX.V: VIPR, OTC:VIPRF
VANCOUVER, BC
,
May 25, 2021
/CNW/ -
Silver Viper Minerals Corp.
("
Silver Viper"
or
the "
Company
") (TSXV: VIPR) is pleased to announce that the Company intends to undertake a
non-brokered private placement financing (the "
Offering
") to raise aggregate gross proceeds of up
to
C$6.0 million
from the sale of up to 12,765,957 units of the Company (the "
Units
") at a price of
C$0.47
per Unit.
Each Unit will consist of one common share (each a "
Common Share
") and one-half of one common
share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant will entitle the holder
thereof to acquire one Common Share at the price of
$0.65
per share for a period of 24 months
from the closing of the Offering.
The Company intends to use the net proceeds from the Offering for working capital requirements
and other general corporate purposes.
The Offering is anticipated to close in two tranches, the first tranche closing on or about
June 1,
2021
and the second tranche expected to close on or about
June 10, 2021
. The closing of the
Offering is subject to certain conditions, including but not limited to, the approval of the TSX Venture
Exchange and certain other conditions customary for a private placement of this nature. All securities
issued pursuant to the Offering will be subject to a statutory four month and one day hold period.
The Company has agreed to pay a finder's fee in respect of those purchasers under the Offering
introduced to the Company by certain persons (each a "
Finder
"). Each Finder will receive a cash
payment equal to 6% of the gross proceeds received by the Company from purchasers under the
Offering who were introduced to the Company by such Finder.
The securities described herein 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 within
the United States
except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on
precious metals exploration in the northwestern Mexican
state of Sonora
. The Company currently
operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia
concessions acquired from PAAS and an option to acquire a 100% interest in the Rubi-Esperanza
group of claims internal to those concessions. The property is an early-stage exploration property,
targeting a series of laterally extensive intrusive dykes and breccia zones, hosting low-sulphidation
epithermal gold-silver mineralization. Silver Viper is under management provided by Belcarra Group
Management Ltd. which is comprised of highly qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements
reflect management's current estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company 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 the Company's control. Such factors include, among other things: risks
and uncertainties relating to exploration and development, the ability of the Company to obtain
additional financing, the need to comply with environmental and governmental regulations,
fluctuations in the prices of commodities, operating hazards and risks, competition and other risks
and uncertainties, including those described in the Company's financial statements available on
www.sedar.com
. 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, the Company undertakes no
obligation to publicly update or revise forward-looking information.
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.
SOURCE
Silver Viper Minerals Corp.
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For further information:
Silver Viper Minerals Corp. at 604-687-8566, email
[email protected] or visit our website at www.silverviperminerals.com
CO: Silver Viper Minerals Corp.
CNW 09:00e 25-MAY-21