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July 31, 2024 TheNewswire - Vancouver, BC Silver Hammer Mining Corp. ( CSE: HAMR ) (the " Company " or " Silver Hammer ") is pleased to announce that it will proceed with a non-brokered private placement of up to 27,000,000 units of the Company (the " Units ") at CAN$0.055 per Unit for gross proceeds of up to CAN$ 1,485,000 (the " Offering "). Each Unit will consist of one common share in the capital of the Company (a " Share ") and one transferrable common share purchase warrant (a " Warrant "). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of CAN$0.07 for a period of three years from the closing of the Offering.
"Silver Hammer is one of the few pure silver focused exploration and development companies with 100% control of three high-grade silver projects in Nevada and Idaho, where each asset contains historical silver mines that have had limited modern-day exploration. As one of Silver Hammer's largest shareholders, I look forward to a busy year ahead, and the patience and support of our shareholders pushing forward in what appears to be an emerging strong silver bull market," commented Peter A. Ball, President & CEO of Silver Hammer Mining. "Silver Hammer is pleased to have experienced executive level mineral explorers Ron Burk, previous VP of Exploration for Centerra Gold and Silver Standard, and Don Birak, the previous Senior VP of Exploration for Coeur Mining, VP Exploration for AngloGold North America and Hudson Bay Mining & Smelting as members of the Board of Directors."
In connection with the Offering, the Company will pay finders' fees of up to 7.0% of the gross proceeds raised by the Company from the sale of Units to subscribers directly introduced to the Company by eligible finders. In addition, the Company will issue to eligible finders non-transferable finders' warrants of up to 7.0% of the number of Units sold in the Offering. Each finders' warrant will entitle the holder to acquire one Share at a price of CAN$0.07 per Share for a period of three years from the date of issuance.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The Company may, at its discretion, elect to close the Offering in one or more tranches.
The Company intends to use the proceeds raised from the Offering to advance exploration efforts at its 100% controlled projects which includes Silver Strand in Idaho, and Eliza and Silverton in Nevada and also for working capital and general corporate purposes.
The Company will not be proceeding with its previously announced private placement of units most recently disclosed in the Company's news release dated May 27, 2024.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100% of the Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
On Behalf of the Board of Silver Hammer Mining Corp.
Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com
For investor relations inquiries, contact:
Peter A. Ball
President & CEO
778.344.4653
E: investors@silverhammermining.com
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering and the use of proceeds therefrom and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
Not for distribution to the U.S. newswire or for dissemination in the United States
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