Silver Tiger Announces C$18 Million Bought Deal Financing
February 07 2023 - 4:28PM
Silver Tiger Metals Inc. (TSXV:SLVR and OTCQX:SLVTF) (“Silver
Tiger” or the “Corporation”) has announced today that it has
entered into an agreement with a syndicate of underwriters led by
BMO Capital Markets, under which the underwriters have agreed to
buy on a bought deal basis 58,100,000 common shares (the
“Common Shares”), at a price of $0.31 per Common Share for gross
proceeds of $18 million (the “Offering”). The Company has granted
the Underwriters an option, exercisable at the offering price for a
period of 30 days following the closing of the Offering, to
purchase up to an additional 15% of the Offering to cover
over-allotments, if any. The offering is expected to close on or
about February 24, 2023 and is subject to Silver Tiger receiving
all necessary regulatory approvals.
The net proceeds of the offering will be used to
support the continued advancement of the Company’s El Tigre project
and for general corporate purposes.
The Common Shares will be offered by way of a
short form prospectus in all of the provinces of Canada, excluding
Quebec, and may also be offered by way of private placement in the
United States.
The securities offered have not been registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Silver Tiger
Silver Tiger Metals Inc. is a Canadian company
whose management has more than 25 years’ experience discovering,
financing and building large hydrothermal silver projects in
Mexico. Silver Tiger’s 100% owned 28,414 hectare Historic El Tigre
Mining District is located in Sonora, Mexico. Principled
environmental, social and governance practices are core priorities
at Silver Tiger.
For further information, please contact:
Glenn JessomePresident and CEO902 492
0298jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
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.
This News Release includes certain
“forward-looking statements”. All statements other than statements
of historical fact included in this release, including, without
limitation, statements regarding the timing of and completion of
the Offering, the expected use of proceeds and receipt of all
necessary regulatory approvals, are forward-looking statements that
involve various risks and uncertainties. Forward-looking statements
are frequently characterized by words such as “may”, “is expected
to”, “anticipates”, “estimates”, “intends”, “plans”, “projection”,
“could”, “vision”, “goals”, “objective” and “outlook” and other
similar words. Although Silver Tiger believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, there can be no assurance that such
statements 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 Silver Tiger’s expectations include risks
and uncertainties related to exploration, development, operations,
commodity prices and global financial volatility, risk and
uncertainties of operating in a foreign jurisdiction as well as
additional risks described from time to time in the filings made by
Silver Tiger with securities regulators.
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