Vancouver, British Columbia--(Newsfile Corp. - April 17, 2023) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") is pleased to announce a non-brokered private placement financing of up to 23,809,524 common shares of the Company (the "Shares") at a price of $0.21 per Share for aggregate gross proceeds of up to $5,000,000 (the "Offering").
The Shares issued under the Offering will be subject to restrictions on resale for a period of four months from the date of issuance. The Company may pay finders a fee in cash and/or warrants under the Offering.
The net proceeds of the Offering will be used to satisfy the Company's bond obligations under its option agreement to acquire the Candelaria Project, various work programs, including exploration and maintenance fees, of the Company's mineral properties and general working capital purposes.
The Company previously filed a confidential price reservation form protecting the price of the Offering. The closing of the Offering is subject to the approval of the TSXV.