Silver Viper Minerals Announces $2 Million Private Placement
Silver Viper Minerals Announces $2 Million
Private Placement
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
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/
TSX.V: VIPR, OTC: VIPRF
Vancouver, BC
,
Nov. 24, 2022
/CNW/ -
Silver Viper Minerals Corp.
(the "
Company
" or "
Silver
Viper
") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that the Company intends to undertake
a non-brokered private placement financing (the "
Offering
") to raise gross proceeds of up to
$2,000,000
from the sale of up to 10,000,000 units ("
Units
") at a price of
$0.20
per Unit, each Unit
consisting of one common share of the Company (each, a "
Share
") and one-half of one warrant
(each whole warrant, a "
Warrant
"). Each Warrant will entitle the holder thereof to acquire one Share
from the Company at a price of
$0.30
per Share for a period of 24 months from closing of the
Offering.
The Company intends to use the net proceeds from the Offering for working capital requirements
and other general corporate purposes. In addition, further to its news release dated
November 7,
2022
, the Company anticipates that upon closing of the Offering, it will have satisfied the proposed
financing condition set out in the letter of intent the Company entered into with Canasil Resources
Inc. ("
Canasil
"), pursuant to which the Company will acquire all of the issued and outstanding shares
of Canasil (the "
Acquisition
"). The Company and Canasil are currently negotiating the terms of a
definitive agreement with respect to the Acquisition.
The Offering is anticipated to close on or about
December 8, 2022
(the "
Closing Date
"). The closing
of the Offering is subject to certain conditions, including 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 from the
Closing Date.
The Company may 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. Red Cloud Securities Inc. will be acting as a finder
in connection with 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 and CEO
Forward Looking Information
This news release may contain forward-looking statements, including statements with respect to the
terms of the Offering, the receipt of regulatory approvals for the Offering, closing of the Offering,
satisfaction of conditions related to the Acquisition, the terms of the Acquisition, the entering into of a
definitive agreement with respect to the Acquisition, completion of the Acquisition 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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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 22:17e 24-NOV-22