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Silver Crown Royalties Inc. (Cboe CA: SCRI) (OTCQX: SLCRF) (FSE: QS0) ("Silver Crown", "SCRi", or the "Company") is pleased to announce the closing of its previously announced upsized financing of units ("Units") of the Company (the "Offering"). A total of 599,064 Units, including the exercise of the over-allotment option were sold under the Offering at a price of $5.50 per Unit (the "Issue Price") for aggregate gross proceeds of $3,294,852.00. The Offering was led by Centurion One Capital Corp. as lead agent and sole bookrunner (the "Lead Agent").
Peter Bures, Executive Chairman and Chief Executive Officer, commented: "Silver Crown Royalties is very pleased to close this oversubscribed financing. Investor demand surpassed our initial target, enabling us to increase the size of this offering. This new capital will allow us to secure new royalties, deliver shareholder value and continue to grow our portfolio."
The Units were issued pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the "Listed Issuer Financing Exemption"). Each Unit consists of one common share ("Common Share") and one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $8.25 for a period of 36 months from the closing of the Offering (the "Closing Date"). The Warrants will be subject to an acceleration right (the "Warrant Acceleration Right") if, on any thirty (30) consecutive trading days, beginning on the date that is the Closing Date the daily volume weighted average trading price of the Common Share is greater than $11.00. If the Company exercises its Warrant Acceleration Right, the new expiry date of the Warrants will be the 30th day following the notice of such exercise.
The securities issued under the Listed Issuer Financing Exemption are not subject to a hold period pursuant to applicable Canadian securities laws.
The net proceeds from the Offering will be used to finalize the remaining PPX and EDM Resources royalty transactions and to grow SCRi's silver royalty portfolio by funding precious metal mining opportunities and processing facilities. Additionally, the funds will support the acquisition of new royalty opportunities, due diligence efforts, and administrative expenses to drive growth and increase shareholder value in a strong silver market.
In connection with the Offering, the Company paid a cash commission of $263,588.16 and issued 47,925 broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder to acquire a Unit at the Issue Price for a period of three years from the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 may not be offered or sold within the United States or to "U.S. persons" (as that term is defined in Rule 902(k) of Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT Silver Crown Royalties INC.
Founded by seasoned industry professionals, Silver Crown Royalties (Cboe CA: SCRI) (OTCQX: SLCRF) (FSE: QS0) is a publicly traded silver royalty company dedicated to generating free cash flow. Silver Crown (SCRi) currently holds five silver royalties. Its business model offers investors exposure to precious metals, providing a natural hedge against currency devaluation while mitigating the adverse effects of production-related cost inflation. SCRi strives to minimize the economic burden on mining projects while simultaneously maximizing shareholder returns. For further information, please contact:
Silver Crown Royalties Inc.
Peter Bures, Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
ABOUT CENTURION ONE CAPITAL
Centurion One Capital is the premier independent Investment Banking firm dedicated to fueling the growth and success of growth companies in North America. Their mission is to ignite the world's most visionary entrepreneurs to conquer the greatest challenges of tomorrow, fueling their ambitions with transformative capital, unparalleled expertise, and a global network of influential connections. Every interaction is guided by their core values of respect, integrity, commitment, excellence in execution, and uncompromising performance. Centurion One Capital makes principal investments, drawing on the time-honored principles of merchant banking, where aligned incentives forge enduring partnerships. Centurion One Capital: A superior approach to investment banking.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, the use of proceeds raised under the Offering, and the ability of the Company to secure new royalties, deliver shareholder value and continue to grow its portfolio. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Not for dissemination into the U.S. or through U.S. wire services.
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