Silver North (TSXV:SNAG)

Silver North Closes Private Placement Tranche

Silver North Resources Ltd. (TSXV:SNAG ) , ( OTC:TARSF) (“ Silver North ” or the “ Company ”) is pleased to report that it has closed the second and final tranche of the financing announced on August 29, 2023 and October 19, 2023.

For the two tranches, the Company raised a total of $1,000,000 including $540,000 from the sale of “Units” at $0.20 per Unit, and $460,000 from the sale of “Flow Through shares” at $0.20 per Flow Through Share for a total of 5,000,000 shares and 1,350,000 warrants issued.

Each $0.20 Unit is comprised of one common share and one half of a common share purchase warrant. Each full common share purchase warrant entitles the holder to purchase one common share for $0.30 per common share for a period of three years from closing. The common share purchase warrants are non-transferable. All securities are subject to a four-month hold from the dates of closing.

Each Flow Through share was issued at $0.20 and the proceeds will be spent on Canadian Exploration Expenditures as defined in the Income Tax Act, Canada. The proceeds from the Units financing are to fund various activities including marketing of projects, corporate overhead costs and project generation.

A director and an officer of the Company purchased or acquired direction and control over a total of 370,000 Units and 60,000 Flow Through shares under the private placement. The placement to those persons constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).

Finder’s fees of $24,640 in cash and 123,200 in finder’s warrants were paid to eligible parties. Each finder’s warrant entitles the holder to purchase one common share for $0.20 per common share for a period of three years from closing. All securities are subject to a four-month hold from the dates of closing.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Silver North Resources Ltd.

Silver North’s primary assets are its 100% owned Haldane silver project and the Tim silver project (under option to Coeur Mining, Inc.). Silver North also holds gold and base metal projects in Yukon Territory, Colorado and Nevada and is actively seeking partners for them. Silver North also holds certain royalties on projects in North and South America.

The Company is listed on the TSX Venture Exchange under the symbol “SNAG” and trades on the OTCQB market in the US under the symbol “TARSF”.

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

Twitter: https://twitter.com/SilverNorthRes

LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/

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.

Source

Click here to connect with Silver North Resources Ltd. (TSXV:SNAG, OTC:TARSF) to receive an Investor Presentation

SNAG:CC
Silver North

Silver North Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

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

Silver North


Keep reading...Show less
Silver North Closes Non-Brokered Private Placement

Silver North Closes Non-Brokered Private Placement

(TheNewswire)

Silver North Resources Ltd.

Vancouver, BC, April 11, 2024 TheNewswire S ilver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF, Frankfurt: I90, " Silver North " or the " Company ") is pleased to report that it has closed the financing announced on March 14, 2024 and updated April 4, 2024.  The Company raised $650,000 from the sale of 6,500,000 "Units" at $0.10 per Unit.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Increases Oversubscribed Non-Brokered Private Placement to $650,000

Silver North Increases Oversubscribed Non-Brokered Private Placement to $650,000

(TheNewswire)

Silver North Resources Ltd.

Not for distribution to United States Newswire Services or for dissemination in the United States.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Outlines 2024 Tim Silver Property Drilling Program

Silver North Outlines 2024 Tim Silver Property Drilling Program

(TheNewswire)

Silver North Resources Ltd.

Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce plans for the 2024 drilling program at the Tim Property, under option to Coeur Mining, Inc. ("Coeur" NYSE-CDE). Coeur intends to commence exploration on the property in June, and plans to complete approximately 2,000 metres of drilling targeting silver-lead-zinc Carbonate Replacement Deposit ("CRD") mineralization similar to that found at Coeur's Silvertip Mine Property, 19 km to the south of Tim

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Announces $500,000 Non-Brokered Private Placement

Silver North Announces $500,000 Non-Brokered Private Placement

(TheNewswire)

Silver North Resources Ltd.

Not for distribution to United States Newswire Services or for dissemination in the United States.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Reviews 2023 Activities and 2024 Plans

Silver North Reviews 2023 Activities and 2024 Plans

(TheNewswire)

Silver North Resources Ltd.

Vancouver, BC TheNewswire - February 29, 2024 Silver North Resources Ltd. (TSXV:SNAG ) ( OTC:TARSF) (" Silver North " or the " Company ") is pleased to provide a summary of accomplishments in 2023 and its strategy and plans for 2024, including its flagship Haldane Silver Property in the historic Keno Hill District, Yukon and its Tim Silver Property, currently under option to Coeur Mining, Inc. ("Coeur").  With two high grade silver projects slated for drilling and management actively seeking new silver exploration opportunities, Silver North is planning for a busy 2024.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Endeavour Silver Announces Nomination of Angela Johnson to Board of Directors

Endeavour Silver Corp. ("Endeavour Silver" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to announce Angela Johnson as a nominee for election to its Board of Directors at the Company's 2024 Annual Meeting of Shareholders on May 28, 2024. Current board member and former Chief Financial Officer, Christine West, will be stepping down having announced her retirement in 2023.

"We are excited about adding Angela to the Board, her technical background and Environmental, Social, and Governance (ESG) experience make her an exceptional fit with our existing Board members that achieves succession planning objectives to ensure core board competencies and expertise are in place," said Rex McLennan, Chairman of the Board of Directors of Endeavour Silver. "I would also like to sincerely thank Ms. West for her guidance and tireless commitment to Endeavour Silver over the years."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

SilverCrest Provides First Quarter Operational Results and Conference Call Details

Record Processed Grades and Recoveries, Silver Equivalent Sales Exceed Plan

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

First Majestic Produces 5.2 Million AgEq Oz in Q1 2024

First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the "Company" or "First Majestic") announces that total production in the first quarter of 2024 from the Company's three producing mines in Mexico, the San Dimas SilverGold Mine, the Santa Elena SilverGold Mine and the La Encantada Silver Mine, reached 5.2 million silver equivalent ("AgEq") ounces, consisting of 2.0 million silver ounces and 35,936 gold ounces. The Company's financial results for the first quarter of 2024 are scheduled to be released on Wednesday, May 8, 2024.

Q1 2024 HIGHLIGHTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Fortuna intersects 1kg Ag Eq over an estimated true width of 8.1m at the Yessi vein, San Jose Mine, Mexico

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an update on its Yessi vein exploration program at the San Jose Mine in Mexico.

Paul Weedon, Senior Vice President of Exploration, commented, "Drilling on the Yessi vein, since the initial discovery hole in August 2023, has continued to establish a well-defined system, with recent results such as 1,327 g/t Ag Eq over an estimated true width of 3.0 meters from 604.85 meters in SJO-1444 and 1,036 g/t Ag Eq over an estimated true width of 8.1 meters including 2,910 g/t Ag Eq in SJO-1460 highlighting the potential for high-grade shoots. In addition, wide intervals such as the 179 g/t Ag Eq over an estimated true width of 17.5 meters in SJO-1455A highlight the potential for broad zones of mineralization".

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Klondike Silver Announces Private Placement

Klondike Silver Announces Private Placement

Klondike Silver Corp. (the “Company”) (TSX.V: KS) The Company announces that it is raising up to $1,500,000 through a non-brokered private placement (the “Offering”) of up to 30,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable for a period of 5 years from the closing at a price of $0.05 per share in year one and two then $0.08 per share in years three, four and five. All Units are subject to a four-month hold period from the date of issuance. Commissions may be paid on a portion of the funds raised. The Offering is subject to TSX Venture Exchange ("TSXV") final acceptance.

Keep reading...Show less

Endeavour Silver Announces First Drawdown on The Terronera Senior Secured Debt Facility

Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to announce the first drawdown of $60 million of the $120 million senior secured debt facility (the " Debt Facility ") for the development of the Terronera Mine in Jalisco state, Mexico. The debt facility is provided by Société Générale and ING Bank N.V. and closed last year (see news release dated October 10, 2023 ). All references to dollars ($) in this news release are in United States dollars.

Construction of the Terronera mine is well underway and remains on track and has satisfied all conditions precedent to first draw. Key terms of the Debt Facility remain consistent with those previously announced in the Company's news release dated April 18, 2023 and the hedge contract terms have now been executed, further reducing financial risk in the project. The key terms of these contracts are as follows:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver North

Silver North Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×