/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Nov. 2, 2022
/CNW/ - Kootenay Silver Inc. ("Kootenay" or the
"Company") (TSXV: KTN), is pleased to announce that the
Company has increased the size of its previously announced best
efforts private placement (as detailed in the Company's news
releases dated October 18, 2022 and
October 24, 2022) (the
"Offering") from $4,000,000 to
$4,347,826 from the sale of up to
48,309,179 units of the Company (the "Units") at a price of
$0.09 per Unit (the "Offering
Price").
The Offering is being led by Research Capital Corporation, as
the lead agent and sole bookrunner, on behalf of a syndicate of
agents, including Red Cloud Securities Inc. (collectively, the
"Agents").
The Agents have been granted an option (the "Agents'
Option") to offer for sale an additional 15% of the number of
Units sold in the Offering at the Offering Price. If the Agents'
Option is exercised in full, the total gross proceeds to the
Company will be up to $5,000,000.
All other terms of the Offering remain unchanged from the terms
described in the Company's news release dated October 24, 2022. The increase in size of the
Offering is subject to the approval of the TSX Venture
Exchange.
The Offering is scheduled to close on or about November 8, 2022, or such date as agreed upon
between the Company and the Agents (the "Closing") and is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the
Exchange. The Units to be issued under the Offering will have a
hold period of four months and one day from Closing.
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 Kootenay Silver
Inc.
Kootenay Silver Inc. is an exploration company actively
engaged in the discovery and development of mineral projects in the
Sierra Madre Region of Mexico.
Supported by one of the largest junior portfolios of silver assets
in Mexico, Kootenay continues to
provide its shareholders with significant leverage to silver
prices. The Company remains focused on the expansion of its current
silver resources, new discoveries and the near-term economic
development of its priority silver projects located in prolific
mining districts in Sonora, State
and Chihuahua, State, Mexico,
respectively.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
"Forward-looking information" includes, but is not limited to,
statements with respect to the activities, events or developments
that the Company expects or anticipates will or may occur in the
future, including the expectation that the Offering will close in
the timeframe and on the terms as anticipated by management and
that the Offering, including the increase of the size of the
Offering, will be approved by the TSX Venture Exchange. Generally,
but not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the Company will
complete Offering in the timeframe and on the terms as anticipated
by management. Although the assumptions made by the Company in
providing forward-looking information or making forward-looking
statements are considered reasonable by management at the time,
there can be no assurance that such assumptions will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks
relating to the failure to complete the Offering in the timeframe
and on the terms as anticipated by management, market conditions
and timeliness regulatory approvals. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. These forward
looking statements are made as of the date of this press release,
and, other than as required by applicable securities laws, the
Company disclaims any intent or obligation to update publicly any
forward looking statements, whether as a result of new information,
future events or results or otherwise.
SOURCE Kootenay Silver Inc.