Silver North Announces Closing of Second Tranche of Private Placement

Silver North Announces Closing of Second Tranche of Private Placement

(TheNewswire)

Vancouver, BC, June 28, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has closed the second tranche (the " Second Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $175,880. Further to the Company's news release dated June 21, 2024, the Company has raised aggregate gross proceeds of $738,380 in the Offering.

In connection with the closing of the Second Tranche the Company issued 1,099,250 non-flow-through units of the Company (the " NFT Units ") at a price of $0.16 per NFT Unit for gross proceeds of $175,880. Each NFT Unit is comprised of one common share in the capital of the Company (a " Share ") and one common share purchase warrant (a " Warrant ") of the Company. Each Warrant entitles the holder thereof to purchase one Share (a " Warrant Share ") until June 28, 2028 at an exercise price of $0.35 per Warrant Share.

"Management would like to thank those who participated in this financing as we continue to push to make new silver discoveries," stated Mark T. Brown, Executive Chairman of Silver North. "With this continued support we can continue to add value drilling new high grade silver targets and advancing existing discoveries such as West Fault, at our Haldane Silver Project, Keno District, Yukon."

The Company intends to use the proceeds from the Second Tranche for general corporate and working capital purposes.

In connection with the closing of the Second Tranche the Company issued 10,500 finder's warrants (the " Finder's Warrants ") and paid a cash commission of $1,680 to Haywood Securities Inc. Each Finder's Warrant entitles the holder thereof to purchase one Share (a " Finder's Warrant Share ") at a price of $0.16 per Finder's Warrant Share until June 28, 2025. The Finder's Warrants issued in connection with the Second Tranche are subject to a statutory hold period and may not be traded until October 29, 2024, except as permitted by applicable securities legislation.

Jason Weber, CEO, President and a director of the Company and Pacific Opportunity Capital Ltd., a company controlled by Mark Brown, a director of the Company (collectively, the " Interested Parties "), purchased or acquired direction or control over a total of 231,250 NFT Units as part of the Second Tranche. The placement to the Interested Parties constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). Notwithstanding the foregoing, the directors of the Company have determined that the Interested Parties' participation in the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the Second Tranche of the Offering as the details of the participation of Interested Parties had not been confirmed at that time.

The Company anticipates closing a third tranche of the Offering shortly, subject to customary closing conditions, including the approval of the TSX Venture Exchange (" TSXV "). The Company anticipates that the securities issued in subsequent tranches will be NFT Units.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the NFT Units and the charity flow-through units (" CFT Units " and together with the NFT Units, the " Offered Securities ") are offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the " Listed Issuer Financing Exemption "). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issuable from the sale of Offered Securities to Canadian resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.silvernorthres.com. Prospective investors should read this offering document before making an investment decision.

The securities described herein have not been, and will not be, registered under the U.S. Securities Act, as amended, or any state securities laws, and accordingly, may not be offered or sold within the United States or the US persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Silver North Resources Ltd.

Silver North's primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill Mine project), the Tim silver project (under option to Coeur Mining, Inc. in the Silvertip/Midway District, BC and Yukon) and the GDR project also in the Silvertip/Midway district. Silver North also plans to acquire additional silver properties in favourable jurisdictions.

The Company is listed on the TSX Venture Exchange under the symbol "SNAG", trades on the OTCQB market in the United States under the symbol "TARSF", and under the symbol "I90" on the Frankfurt Stock Exchange.

Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

For further information, contact:

Jason Weber, President and CEO

Sandrine Lam, Shareholder Communications

Tel: (604) 807- 7217

Fax: (888) 889-4874

To learn more visit: www.silvernorthres.com

X:

LinkedIn: https://

NEITHER THE 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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD- LOOKING STATEMENTS.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

SNAG:CC
The Conversation (0)
Silver North (TSXV:SNAG)

Silver North Resources


Keep reading...Show less

Next Generation Silver Discoveries

Silver North Commences Drilling at Haldane Property

Silver North Commences Drilling at Haldane Property

(TheNewswire)

  • Drilling to test high-grade silver targets at the West Fault, Main Fault and Bighorn

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Tim Drilling Program Completed; Crews Mobilizing to Haldane Project

Tim Drilling Program Completed; Crews Mobilizing to Haldane Project

(TheNewswire)

  • Drilling indicates the presence of a Carbonate Replacement ("CRD") style system at Tim

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North to Commence Haldane Drilling

Silver North to Commence Haldane Drilling

(TheNewswire)

Vancouver, BC, August 27, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to provide an update on 2024 Yukon exploration activities at the wholly owned Haldane Property in the historic Keno Hill Silver District, Yukon. Crews will be mobilizing to the property in the first week of September, with drilling commencing by mid-September. The 8,579 hectare Haldane Property is located 25 km west of Keno City, YT and hosts numerous occurrences of silver-lead-zinc-bearing quartz siderite veins as seen elsewhere in the district.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Provides Tim Drilling Progress Update

Silver North Provides Tim Drilling Progress Update

(TheNewswire)

  • Drilling indicates the presence of a Carbonate Replacement ("CRD") style system at Tim

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Announces Closing of Final Tranche of Private Placement

Silver North Announces Closing of Final Tranche of Private Placement

(TheNewswire)

Vancouver, BC, July 18, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has closed the third and final tranche (the " Final Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $89,000. Further to the Company's news releases dated June 21, 2024 and June 28, 2024, the Company has raised aggregate gross proceeds of $827,380 in the Offering.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Element79 Gold Corp. Announces Changes to Board of Directors with Eye to Drive Corporate Growth

Element79 Gold Corp. Announces Changes to Board of Directors with Eye to Drive Corporate Growth

(TheNewswire)

Vancouver, British Columbia TheNewswire - September 15, 2025 - Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (FSE: 7YS0) (OTC: ELMGF) (the "Company" or "Element79") announces that its Board of Directors has accepted the resignation of Ms. Zara Kanji as Director of the Company, effective immediately. The Board and management thank Ms. Kanji for her valuable contributions to the Company and wish her the very best in her current and future endeavors.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Locksley Resources Announces Significant Expansion of its Exploration Program for both Rare Earths and Antimony After Increasing its Landholding to More than 40 Square Kilometers in California's Mojave Region

Locksley Resources Announces Significant Expansion of its Exploration Program for both Rare Earths and Antimony After Increasing its Landholding to More than 40 Square Kilometers in California's Mojave Region

Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF; OTCQB: LKYRF) announced it will significantly expand its exploration program at its significantly increased landholding in the Mojave Desert. Earlier this month the company announced the addition of 249 additional claims at the site, which abuts areas currently controlled by MP Materials, the only Rare Earths producing mine in North America . These new claims bring the company's total landholding to 491 claims encompassing more than 40 sq km of highly prospective critical minerals. Additional details can be found here: https:cdn-api.markitdigital.comapiman-gatewayASXasx-research1.0file2924-02993242-6A1283793&v=c2533a54e2514fb77a8f93f84db686e1125273e9

"The substantial expansion of our landholding within the Mojave Critical Minerals Corner marks a pivotal step in Locksley's growth," said Pat Burke , Chairman of Locksley Resources. He reported that last week brokers and analysts visited the site, affording Locksley an excellent opportunity to highlight both the scale of the tenure, as well as the strategic importance of its position in this area.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Blue Lagoon Announces Commissioning of MBBR Water Treatment System and Start of Underground Operations at Dome Mountain

Blue Lagoon Announces Commissioning of MBBR Water Treatment System and Start of Underground Operations at Dome Mountain

(TheNewswire)

September 15, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. ("Blue Lagoon" or the "Company") (CSE: BLLG,OTC:BLAGF; OTCQB: BLAGF; FSE: 7BL) is pleased to announce that the Moving Bed Biofilm Reactor ("MBBR") system at its Dome Mountain Water Treatment Plant is now ready for commissioning.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Sranan Gold Announces Participation in Upcoming Capital Event Muskoka Conference and Munich Mining Conference

Sranan Gold Announces Participation in Upcoming Capital Event Muskoka Conference and Munich Mining Conference

Sranan Gold Corp. (CSE: SRAN) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") announces that CEO Oscar Louzada will be participating in the following investor conferences:

Capital Event Muskoka
Date: September 26-28, 2025
Venue: JW Marriott Rosseau Muskoka Resort, Minett, Ontario
Format: One-on-one meetings with investors
Registration: https://cem.ca/conference/muskoka-capital-event-2025/

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kobo Resources Closes Second and Final Tranche of the Upsized Non-Brokered Private Placement for Gross Proceeds of Over $3.96 Million

Kobo Resources Closes Second and Final Tranche of the Upsized Non-Brokered Private Placement for Gross Proceeds of Over $3.96 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×