Silicon Metals closes first tranche of offering I AM WATCHING THIS ONE!!!
Silicon Metals closes first tranche of offering
2025-04-17 20:24 ET - News Release
Mr. Morgan Good reports
SILICON METALS CLOSES $320,000 INITIAL TRANCHE OF OFFERING
Silicon Metals Corp., further to its news release dated March 17, 2025, has closed an initial tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $320,000 through the issuance of 6.4 million common shares of the company at a price of five cents per share.
The company intends to use the aggregate proceeds of the offering for exploration advancements at its British Columbia exploration properties and general working capital.
Fees of $1,600 were paid and 32,000 finders' warrants were issued to certain finders in connection with the first tranche. Each finder's warrant is exercisable into one share for a period of 24 months after the date of issuance at an exercise price of 10 cents.
All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102, Resale of Securities.
About Silicon Metals Corp.
Silicon Metals is currently focused on exploration in Western Canada, namely British Columbia. The company holds an undivided 100-per-cent right, title and interest in the Ptarmigan silica project, located approximately 130 kilometres from Prince George, B.C., and the Silica Ridge silica project, located approximately 70 kilometres southeast from the town of MacKenzie in British Columbia. The company has also acquired an option to purchase an undivided 100-per-cent right, title and interest in the Longworth silica project, located approximately 85 kilometres east from Prince George, B.C. Also, the company currently has an option to explore the Hedge Hog project, located 15 kilometres north of the town of Wells in the Caribou mining division of central B.C. The securities of Silicon Melals trade on the Canadian Securities Exchange under the symbol SI and on the Frankfurt Stock Exchange under the symbol X6U, as well as on the OTC (over-the-counter) market in the United States under the trading symbol SLCND.
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