VANCOUVER, BC, June 21,
2024 /PRNewswire/ -- Silver One Resources Inc. (TSXV:
SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is
pleased to announce that it has closed its previously announced
non-brokered private placement financing (see news release dated
June 13, 2024) by issuing 21,099,138
units of the Company (the "Units") at a price of $0.28 per Unit for aggregate gross proceeds of
$5,907,758.64 (the "Offering").
Each Unit is comprised of one common share ("Share") and
one-half of one common share purchase warrant ("Warrant"), with
each whole Warrant entitling the holder to purchase one additional
common share at $0.40 per Share for a
period of three (3) years from the date of issue.
The Shares issued under the Offering will be subject to
restrictions on resale until October 21,
2024. The Company paid finders a fee totaling $78,120.48 and issued finders a total of 237,006
finder's warrants. Each finder's warrant is exercisable at a
price of $0.40 per Share for a period
of three (3) years from the date of issue.
Proceeds of the Offering will include drilling of the very
high-grade silver targets at Phoenix Silver Project, geophysical
work and sampling to outline potential porphyry copper-silver
targets at Phoenix Silver Project, ongoing metallurgical work at
Candelaria with the goal of updating the historical resource and
completing an economic study, plus general working capital.
This news release does not constitute an offer to sell, or
solicitation of an offer to buy, nor will there be any sale of any
of the securities offered in any jurisdiction where such offer,
solicitation or sale would be unlawful, including the United States of America. The securities
being offered as part of the Offering 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 in the United States except in compliance with
the registration requirements of the U.S. Securities Act and any
applicable state securities laws, or pursuant to available
exemptions therefrom.
About Silver One
Silver One is focused on the exploration and development of
quality silver projects. The Company holds a 100%-interest in
its flagship project, the past-producing Candelaria Mine located in
Nevada. Potential reprocessing of silver from the historic
leach pads at Candelaria provides an opportunity for possible
near-term production. Additional opportunities lie in
previously identified high-grade silver intercepts down-dip and
potentially increasing the substantive silver mineralization
along-strike from the two past-producing open pits.
The Company has staked 636 lode claims and entered into a
Lease/Purchase Agreement to acquire five patented claims on its
Cherokee project located in Lincoln
County, Nevada, host to multiple silver-copper-gold vein
systems, traced to date for over 11 km along-strike.
Silver One also owns a 100% interest in the Silver Phoenix
Project. The Silver Phoenix Project is a very high-grade native
silver prospect that lies within the "Arizona Silver Belt",
immediately adjacent to the prolific copper producing area of
Globe, Arizona.
Forward-Looking Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Silver One cautions that all
forward-looking statements are inherently uncertain, and that
actual performance may be affected by a number of material factors,
many of which are beyond Silver One's control. Such factors
include, among other things: risks and uncertainties relating to
Silver One's limited operating history, ability to obtain
sufficient financing to carry out its exploration and development
objectives on its mineral properties, obtaining the necessary
permits to carry out its activities and the need to comply with
environmental and governmental regulations. Accordingly, actual and
future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, Silver One undertakes no
obligation to publicly update or revise forward-looking
information.
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.
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For more information, please contact:
Silver One
Resources Inc.
Gary Lindsey - VP, Investor
Relations
Phone: 604-974–5274
Mobile: (720) 273-6224
Email: gary@strata-star.com
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SOURCE Silver One Resources Inc.