Silver Viper Closes Life Offering
SILVER VIPER CLOSES LIFE OFFERING
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
May 16, 2024
/CNW/ -
Silver Viper Minerals Corp.
(the "
Company
" or "
Silver
Viper
") (TSXV: VIPR) (OTC: VIPRF) announces that it has closed the final tranche (the
"
Final
Tranche
") of its non-brokered private placement financing (the "
Offering
") pursuant to the
Listed Issuer Financing Exemption (the "
LIFE
") of National Instrument 45
106
- Prospectus
Exemptions ("
NI 45-106
") announced on April
4, 2024. The Final Tranche was comprised of
2,638,000 units of the Company (the "Units") issued at a price of
$0.10
per Unit for aggregate gross
proceeds of
$263,800
. In total, the Company raised
$2,376,900
pursuant to the Offering, having
previously closed a tranche on April
12, 2024, that raised an aggregate of
$2,113,100
.
Each Unit consists of one
(1) common share of the Corporation (each, a "
Share
") and one-half of
one
(1) common share purchase warrant (each whole warrant, a "
Warrant
"). Each Warrant will
entitle the holder to purchase an additional Share (each, a "
Warrant Share
") at a price of
$0.15
per
Share for a period of thirty-six
(36) months from its date of issue. The Warrants will be governed by
the terms and conditions set forth in the certificates representing the Warrants.
The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of
National Instrument 45-106 - Prospectus Exemptions, accordingly, the securities issued in the
Offering are not subject to a hold period in accordance with applicable Canadian securities laws.
There is an offering document (the "
Offering Document
") related to the Offering that can be
accessed under the Company's profile at
www.sedarplus.ca
and on the Company's website at:
https://silverviperminerals.com
. Prospective investors should read this Offering Document before
making an investment decision.
The Company intends to use the net proceeds from the Offering for resource expansion and
exploration drilling at the La Virginia Project as well as surface exploration including mapping and
sampling. Net proceeds from the Offering will also be used for the final
US$200,000
option payment
on its La Virginia Project due in
June 2024
, and for general corporate purposes.
In connection with the closing of the Final Tranche, Silver Viper will pay a finder's fees of
$420
to
Haywood Securities Inc. In total, the Company will pay
$125,406
in finder's fees in connection with
the Offering, having previously closed on
April 12, 2024
, that resulted in payment of
$124,986
in
finder's fees. No insiders of the Company participated in the Offering.
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 is not an offer or a solicitation of an offer of
securities for sale in
the United States
, nor will there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
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 the most recent operator, Pan American Silver Corp., and has an option
to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions.
Silver Viper is under management provided by the Belcarra Group, which is comprised of highly
qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President & CEO, Director
For Further Information, please contact Silver Viper Minerals Corp. at 604-687-8566, email
or visit our website at
www.silverviperminerals.com
.
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Forward Looking Information
This news release may contain forward-looking statements, including statements with respect to the
terms of the Offering, closing of the Offering and use of proceeds of the Offering. These statements
reflect management's current estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. Forward-looking statements address future events and conditions
and therefore involve inherent risks and uncertainties. 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, management
discussion and analysis and/or annual information form available on
www.sedar.com
. The risk
factors identified in such documents are not intended to represent a complete list of factors that
could affect the Company. Actual results may differ materially from those currently anticipated in
such statements and the Company undertakes no obligation to update such statements, except as
required by law.
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.
SOURCE
Silver Viper Minerals Corp.
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%SEDAR: 00042333E
CO: Silver Viper Minerals Corp.
CNW 19:35e 16-MAY-24