VANCOUVER, British Columbia, May 23, 2018 (GLOBE
NEWSWIRE) -- Fortuna Silver Mines Inc.
(NYSE:FSM) (TSX:FVI) announces that pursuant to a warrant exercise,
it has acquired for a purchase price of C$803,571, direct ownership
of 5,357,142 common shares (the "Shares") of Prospero Silver Corp.
("Prospero"), of 510 West Georgia Street, Suite 1800, Vancouver, BC
V6B 0M3, at a price of C$0.15 per Share.
Immediately following this transaction, Fortuna
owned 10,714,284 common shares of Prospero, representing 22.74% of
the issued and outstanding common shares of Prospero.
Immediately prior to the transaction, Fortuna owned 5,357,142
common shares and 5,357,142 common share purchase warrants.
The Shares were acquired by Fortuna for investment
purposes, and depending on market and other conditions, it may from
time to time in the future increase or decrease its ownership,
control or direction over securities of Prospero through market
transactions, private agreements, or otherwise. Fortuna has
filed on www.sedar.com a report in accordance with NI
62-103, and a copy of the report may be obtained by contacting
Sally Whittall, the Corporate Secretary of Fortuna, at
604-484-4085.
About Fortuna Silver Mines
Inc.
Fortuna is a growth oriented, precious metal
producer focused on mining opportunities in Latin America.
The Company's primary assets are the Caylloma silver mine in
southern Peru, the San Jose silver-gold mine in Mexico and the
Lindero gold project in Argentina. The Company is selectively
pursuing acquisition opportunities throughout the Americas and in
select other areas.
ON BEHALF OF THE BOARD
Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Trading symbols: NYSE: FSM | TSX: FVI
Investor Relations:
Carlos Baca- T (Peru): +51.1.616.6060, ext. 0
Forward looking
Statements
This news release contains
forward looking statements which constitute "forward looking
information" within the meaning of applicable Canadian securities
legislation and "forward looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 (collectively, "Forward looking Statements").
All statements included herein, other than statements of historical
fact, are Forward looking Statements and are subject to a variety
of known and unknown risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the Forward looking Statements. Often, but not always, these
Forward looking Statements can be identified by the use of words
such as "estimated", "potential", "open", "future", "assumed",
"projected", "used", "detailed", "has been", "gain", "planned",
"reflecting", "will", "containing", "remaining", "to be", or
statements that events, "could" or "should" occur or be achieved
and similar expressions, including negative variations.
Forward looking Statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any results,
performance or achievements expressed or implied by the Forward
looking Statements. Such uncertainties and factors include, among
others, changes in the Company's plans for its mines and mineral
properties; changes in general economic conditions and financial
markets; changes in prices for silver and other metals;
technological and operational hazards in Fortuna's mining and mine
development activities; risks inherent in mineral exploration;
uncertainties inherent in the estimation of mineral reserves,
mineral resources, and metal recoveries; governmental and other
approvals; political unrest or instability in countries where
Fortuna is active; labor relations issues; as well as those factors
discussed under "Risk Factors" in the Company's Annual Information
Form. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in Forward looking
Statements, there may be other factors that cause actions, events
or results to differ from those anticipated, estimated or
intended.
Fortuna believes that the
assumptions and expectations reflected in the Forward looking
Statements in this news release are reasonable, but no assurance
can be given that these expectations will prove to be correct.
Forward looking Statements should not be unduly relied upon. These
Forward looking Statements speak only as of the date of this news
release, and Fortuna will not necessarily update these statements
unless required to do so by securities laws.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Fortuna Silver Mines Inc. via Globenewswire
Fortuna Silver Mines (TSX:FVI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fortuna Silver Mines (TSX:FVI)
Historical Stock Chart
From Apr 2023 to Apr 2024