Silver

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC) (OTCQB:NVDSF) is pleased to announce that it closed a non-brokered private placement financing for aggregate gross proceeds of $2,000,000 (the "Offering"). Pursuant to the Offering, the Company issued 6,670,000 units (the "Units") at a price of $0.30 per Unit. Each Unit was comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.45 per share for a period of 24 months from the date of issuance, subject to adjustments in certain events and the Acceleration Right (as defined below

In the event that the closing price of the Common Shares of the Company on a recognized stock exchange (including the TSXV) is equal to or greater than $0.80 per share for a period of at least ten (10) consecutive trading days (an "Acceleration Event"), the Company will have the right to accelerate the expiry date of the Warrants to a date that is 30 calendar days after notice is given of such Acceleration Event by way of news release.

The net proceeds of the Offering will be used to further explore and develop the Corcoran Canyon silver-gold property, to undertake drilling at the recently acquired Belmont silver property, both located in Nye County, Nevada, USA, and for working capital and general corporate purposes.

No finder's fees, commissions or similar payments were made in connection with the Offering. All securities issued under the Offering are subject to a restricted period of four months and one day from the date of issuance. The Offering is subject to the final approval of the TSX Venture Exchange Inc. (the "TSXV").

The securities being offered pursuant to 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 U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities being offered pursuant to the offering in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Nevada Silver Corporation

Nevada Silver Corporation (TSXV:NSC) (OTCQB:NVDSF) is a multi-commodity resource company with two exploration projects in the USA. NSC's principal asset is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights over the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, with US$24 million invested to date. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.

For further information please contact:

Gary Lewis
Group CEO & Director
Phone: +1 (416) 941 8900
Email: gl@nevadasilvercorp.com

Forward-Looking Statements

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. Forward-looking statements in this News Release include, but are not limited to, statements related to receipt of final approval of the TSXV for the Offering and the anticipated use of proceeds from the Offering. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE:Nevada Silver Corporation



View source version on accesswire.com:
https://www.accesswire.com/690626/Nevada-Silver-Corporation-Announces-Closing-Of-2000000-Financing

News Provided by ACCESSWIRE via QuoteMedia

NSC:CA
Nevada Silver

Nevada Silver


Keep reading...Show less
Nevada Silver Reports Multiple High-Priority Drill Targets Identified from Recent Geophysical Survey at The Belmont Silver Project, Nevada

Nevada Silver Reports Multiple High-Priority Drill Targets Identified from Recent Geophysical Survey at The Belmont Silver Project, Nevada

Nevada Silver Corporation ("NSC" or the "Company") (TSXV: NSC) (OTCQB: NVDSF) is pleased to announce that it has received results and evaluation of the recently completed Induced Polarization (IP) and Resistivity survey at the Company's 100% owned Belmont Silver Project in Nevada, USA

This survey is the first significant exploration to be undertaken at the Belmont Silver Project in over a century and has identified a large "elephant"-shaped anomalywith multiple untested targets of potential sulphide mineralization that will be drill-tested in the coming weeks (Figure 1).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nevada Silver Corporation Announces Board Changes

Nevada Silver Corporation Announces Board Changes

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) announces that Sheldon Inwentash has resigned as Non-Executive Chairman of NSC, with immediate effect

John Kutkevicius, a Director of the Company, will assume the role of interim Chair until a permanent replacement is announced. He holds a Bachelor of Commerce from Queen's University, a Bachelor of Laws from the University of Western Ontario and a Master of Laws from York University. John practices law exclusively in the areas of income tax and estate planning and has extensive experience in diverse areas of the income tax practice, including corporate reorganizations, mergers and acquisitions, financings, resource taxation, insurance taxation and dispute resolution. John formerly sat on the board of directors of several junior resource companies including Chariot Resources Ltd., Barkerville Gold Mines Ltd. and Changfeng Energy, Inc. and is a member of the Canadian Tax Foundation.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nevada Silver Commences First Exploration in More Than 100 Years at the Historic Belmont Silver Camp, Nevada, USA

Nevada Silver Commences First Exploration in More Than 100 Years at the Historic Belmont Silver Camp, Nevada, USA

Not for distribution to United States newswire services or for dissemination in the United States

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) is pleased to provide an update on exploration activities at the Company's 100%-owned Belmont Silver project in Nevada, USA

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nevada Silver Corporation Announces Changes to Private Placement Financing and Confirms DTC Eligibility

Nevada Silver Corporation Announces Changes to Private Placement Financing and Confirms DTC Eligibility

Not for distribution to United States newswire services or for dissemination in the United States

Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) further to its press release of March 3, 2022, today announces that the brokered private placement financing announced on that date has been terminated. The Company further announces that it is in advanced discussions with a number of interested parties on a non-brokered private placement financing with further details to be announced in due course

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nevada Silver Corporation Announces Update on Emily Manganese Project and Further Detail on Belmont Silver Property Purchase

Nevada Silver Corporation Announces Update on Emily Manganese Project and Further Detail on Belmont Silver Property Purchase

Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) ("NSC" or the "Company") further to its press release of December 21, 2021, is pleased to provide an update on its Emily manganese project (the "Emily Manganese Project"), which is held by its indirectly wholly owned U.S.A. subsidiary, North Star Manganese Inc ("NSM"). The Company has been and continues to be focused on its Corcoran Silver-Gold Project in Nevada, USA and as a result the Company announced on December 21, 2021, that it was considering its options with respect to the financing and commercialization of the Emily Manganese Project including a "spinout" of NSM or a joint venture of the Emily Manganese Project, based on receipt of tax, corporate and securities law advice (such transaction, a "Value Realization Transaction"). In that regard the Company is announcing that while its review is continuing it will conduct an offering of securities of NSM on a private placement basis (the "NSM Financing") to provide funds to NSM for any such Value Realization Transaction and to provide interim exploration financing and general working capital. NSM will offer up to 3,000,000 shares of NSM at a price of $0.25 per share for gross proceeds of up to $750,000. Prior to completing the NSM Financing, NSM will split its shares on the basis of 2.3483 new shares for each currently outstanding share as a result the outstanding shares of NSM will increase from 12,775,000 shares to 30,000,000 shares prior to completion of the NSM Financing. In the event the NSM Financing is completed in full, NSM will have 33,000,000 shares outstanding. In the event that the NSM Financing is completed in full, and a Value Realization Transaction is not completed, the Company's indirect shareholding in NSM will be reduced to a 90.9% indirect holding. The NSM Financing is subject to the approval of the TSX Venture Exchange. Any Value Realization Transaction will be subject to receipt of all necessary corporate, securities, shareholder, and regulatory approvals, including the approval of the TSX Venture Exchange. There can be no assurances that a Value Realization Transaction will be completed, either on the terms outlined, or at all. Please see the Company's filing statement dated April 20, 2021, for further information about the Emily Manganese Project, available under the Company's profile at www.SEDAR.com.

The Company is also pleased to announce further details regarding its acquisition of a total of 2,800 acres of unpatented and patented claims 15 kilometres southwest of the Company's Corcoran Silver-Gold Project and north-east of Tonopah in central Nevada, as discussed in the press release dated February 2, 2022. As part of the land claims acquisitions, the Company's indirect wholly-owned subsidiary North American Silver Corporation ("NAS") acquired five patented lode mining claims in Sections 25 and 36, Township 9 North, Range 45 East, MDM, Nye County, Nevada covering approximately 69.88 acres (the "Optioned Property") from Summa, LLC ("Summa") pursuant to an option and purchase agreement (the "Option and Purchase Agreement") dated as of February 11, 2022 (the "Effective Date"). The purchase price for the Optioned Property is US$10,000 per acre (or part thereof), or a total of US$700,000 (the "Purchase Price"). NAS has the option to defer payment of the Purchase Price for up to five years by paying cash or issuing common shares of the Company (the "Common Shares") on the anniversary date(s) of the Option and Purchase Agreement, or until February 11, 2027, in the following amounts: (i) on the Effective date, US$30,000 of Common Shares at a deemed price of Cdn$0.32 per share; (ii) on the first anniversary of the Effective Date, US$35,000 in cash or Common Shares (at the option of Summa) at a price per share equal to the 10 day VWAP; (iii) on the second anniversary of the Effective Date, US$40,000 in cash or Common Shares (at the option of Summa) at a price per share equal to the 10 day VWAP; (iv) on the third anniversary of the Effective Date, US$45,000 in cash or Common Shares (at the option of Summa) at a price per share equal to the 10 day VWAP and (v) on the fourth anniversary of the Effective Date, US$50,000 in cash or Common Shares (at the option of Summa) at a price per share equal to the 10 day VWAP. On the fifth anniversary of the Effective Date, the Company must pay the Purchase Price to Summa to acquire the Optioned Property. The Company may exercise the option to purchase the Optioned Properties at any time by paying the Purchase Price. The issuance of the shares to Summa in connection with the Option and Purchase Agreement is subject to the approval of the TSX Venture Exchange. The exercise of the Option is at the discretion of NSM.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
silver coins

VIDEO — Peter Krauth: Silver's 2022 Price Path, "Wild Card" Demand Factor to Watch

Peter Krauth: Silver's 2022 Price Path, "Wild Card" Demand Factor to Watchyoutu.be

Peter Krauth, editor of Silver Stock Investor, has a long-term silver price target of US$300 per ounce. But what does he see coming for the white metal in 2022?

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Krauth said he thinks a realistic move for silver this year would be "to at least US$25, or a little bit north of US$25."

In his opinion, industrial demand will create a key price floor, while investment demand will be less predictable.

Keep reading...Show less
Falcon Gold Corp

Falcon Gold Appoints Alvarez Corporate Secretary

FALCON GOLD CORP. (FG: TSX-V), (3FA: GR), (FGLDF: OTCQB); ("Falcon" or the "Company") is pleased to announce the appointment of Ms. Diana Alvarez to the position of Corporate Secretary.

Ms. Alvarez is a paralegal with 15 years of experience working in corporate and securities law. Having worked for some of the leading law firms in Vancouver B.C., she is well versed in corporate compliance, governance, and administration of public traded companies. Ms. Alvarez has spent her career focused on resource issuers and holds a diploma in paralegal studies.

Keep reading...Show less

Fortuna reports results of Annual General Meeting and announces the appointment of an additional Director to the Board

Fortuna Silver Mines, Inc. (NYSE: FSM | TSX: FVI) hereby announces the voting results at the Company's annual general meeting held on June 27, 2022 and announces the appointment of an additional Director to the Board.

A total of 138,713,814 common shares were represented at the meeting, being 47.48 percent of the Company's issued and outstanding shares as at the record date. Shareholders voted in favor of all matters brought before the meeting including the appointment of auditors and the election of management's nominees as directors.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

MAG Reports AGSM Results

MAG Silver Corp. (TSX NYSE American: MAG) ("MAG" or the "Company") reports that at its annual general and special meeting (the " AGSM ") held on June 22, 2022, MAG's Shareholders approved by majority: to elect all eight directors standing for election; to re-appoint Deloitte LLP as auditors of the Company; to support the Company's approach to executive compensation; and to approve the continuation, amendment and restatement of the Company's Shareholder Rights Plan.

Detailed results of the total shares voted at the AGSM are set out below.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver Hammer President Morgan Lekstrom

Silver Hammer President Morgan Lekstrom: Well Hedged to Meet Future Demands

Silver Hammer Mining President & CEO Morgan Lekstromyoutu.be

Keep reading...Show less

Latest Press Releases

Related News

×