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- Silver Tiger Metals Inc. (TSX: SLVR) ("Silver Tiger" or the "Company") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering") of units of the Company (the "Units") with a syndicate of underwriters. Following the full exercise of the over-allotment option, an aggregate of 100,050,000 Units were sold at a price of C$1.00 per Unit for gross proceeds to the Company of C$100,050,000. Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") at a price of C$1.35 per Warrant Share for a period of 24 months following the closing of the Offering. The Company intends to use the proceeds of the Offering to fund exploration and development expenditures at the Company's Project (defined below), as well as for working capital and general corporate purposes.
The Offering was completed by a syndicate of underwriters led by Stifel Canada, as sole bookrunner and lead underwriter ("Stifel Canada"), and BMO Capital Markets, Canaccord Genuity Corp. and Desjardins Securities Inc. (together with Stifel Canada, the "Underwriters"). The Underwriters were paid a cash commission of 5.0% on the gross proceeds of the Offering.
The Offering was completed by way of short form prospectus in each of the provinces of Canada, except Québec, and outside of Canada in accordance with applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they 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" or to "U.S. Persons" (as such terms are defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and all applicable U.S. state securities laws, or in compliance with an exemption therefrom.
About Silver Tiger
Silver Tiger is constructing the El Tigre Stockwork Zone Project (the "Project"), a silver and gold heap leach project located in Sonora, Mexico. The Project is 100% owned by Silver Tiger and covers over 37,000 hectares. The 2026 technical report for the Project is available on SEDAR+ and under the Company's profile as well as on its website at www.silvertigermetals.com.
CAUTIONARY STATEMENT:
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding construction of the Project, and future plans and objectives of Silver Tiger constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of Silver Tiger and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Project. Forward looking statements are frequently characterized by words such as "will", "may", "is expected to", "subject to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from Silver Tiger expectations include exploration and development risks associated with the Silver Tiger projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to Silver Tiger, reference should be made to Silver Tiger continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, its annual information form. The forward-looking information contained in this release is made as of the date of this release
SOURCE Silver Tiger Metals Inc.
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