Silver Dollar arranges $1.5-million private placement Silver Dollar arranges $1.5-million private placement
2024-10-15 11:36 ET - News Release
Mr. Michael Romanik reports
SILVER DOLLAR ARRANGES FINANCING WITH CONTINUED SUPPORT FROM STRATEGIC INVESTOR ERIC SPROTT
Silver Dollar Resources Inc. is arranging a non-brokered private placement financing with qualified investors of up to six million units for maximum gross proceeds of $1.5-million.
The units will be priced at 25 cents and consist of one common share and one-half non-transferable share purchase warrant, with each full warrant entitling the holder to purchase one additional common share of the company at a price of 40 cents for two years from the closing date of the offering.
The company has agreed to pay a finder's fee of up to 7 per cent cash and 7 per cent finders' warrants on a portion of the subscription proceeds. Each finder's warrant will entitle the holder to purchase one common share of the company at a price of 40 cents for 24 months from the closing date. All securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
The company will use the proceeds of the offering to finance its initial drilling campaign at the recently acquired Ranger-Page project in Idaho's Silver Valley, and for general working capital purposes. The completion of this offering is subject to Canadian Securities Exchange acceptance.
Silver Dollar will rely on subsections 5.5(b) and 5.7(1)(a) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. To the company's knowledge, neither it nor the purchasers have knowledge of any material information concerning the company or its securities that has not been generally disclosed.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully financed to execute its near-term exploration plans, having closed its last financing with lead orders from billionaire mining investor Eric Sprott and New York Stock Exchange-listed First Majestic Silver. The company's primary projects lie within Idaho's prolific Silver Valley and the Durango-Zacatecas silver-gold belt, and include the advanced-exploration-stage Ranger-Page and La Joya projects and the early-exploration-stage Nora project. Management has an aggressive growth strategy and is actively reviewing potential acquisitions, with a focus on drill-ready projects in mining-friendly jurisdictions.
We seek Safe Harbor.