Vancouver, British Columbia, April 27, 2023 - Masivo Silver Corp. (“Masivo” or the “Company”) (TSXV: MASS)(OTC:GNYPF) is pleased to announce that it has arranged a non-brokered private placement of up to 5,769,230 Units (the "Units") in the capital of the Company at a price of C$0.13 per Unit for gross proceeds of up to C$750,000 (the "Offering"). Each Unit will consist of one common share and one non-transferable common share purchase warrant (a "Warrant") exercisable at C$0.20 to purchase an additional common share for a period of 36 months from closing.
The net proceeds of the Offering will be used for due diligence on potential mineral concessions the Company is currently looking at, as well as for general working capital. Finder’s fees may be paid on the Offering pursuant to the policies of the TSX Venture Exchange.
About Masivo Silver Corp.
Masivo is a Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Masivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinaloa, Mexico. The Nevada projects are located in the highly prolific mining district of Elko County, covering approximately 543 hectares (1,342 acres), consisting of 65 unpatented land claims, including the historic Boston Mine. In Mexico, Masivo’s mining focus includes silver and gold exploration, development, and ore processing within an aggregate of 14,000+ hectares (35,000+ acres) strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The Company’s mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day. Additional information on Masivo’s current operations and vision, is available on the Company’s website at www.masivosilver.com or email dcoburn@masivosilver.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“David Coburn”
David Coburn, Chief Executive Officer
For information, please contact the Company:
Phone: 602-315-1231
E-mail: info@gaineycapital.com
Website: www.gaineycapital.com
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither 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.