Vancouver, British Columbia--(Newsfile Corp. - October 5, 2023) - Silverstock Metals Inc. (CSE: STK) ("Silverstock" or the "Company") has increased its non-brokered private placement announced August 17, 2023, the Company now intends to raise gross proceeds of up to CAD$521,000 by issuing up to 5,210,000 units (each a "Unit") at CAD$0.10 per Unit (the "Offering"). Each Unit is comprised of one (1) common share in the capital of the Company (each a "Common Share") and one-half of one (1/2) transferable Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to acquire one (1) Common Share at CAD$0.20 for two (2) years from the date of issuance. The Company intends to use the net proceeds from the Offering for general working capital purposes and anticipates closing to occur on or around October 13, 2023. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. In connection with the Offering, the Company may pay certain eligible finder's a fee equal to 6% of the gross proceeds from the Offering and issue Warrants, equal to 6% of the total number of Units sold.
About Silverstock Metals Inc.
Silverstock is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct the exploration of its Gold Cutter Property. The Gold Cutter Property is comprised of two contiguous mineral claims totaling approximately 1,821.1 hectares and is located in the Kamloops Mining Division, British Columbia.
On behalf of the Board of Directors,
SILVERSTOCK METALS INC.
Jonathan Fruchter
Chief Executive Officer, President and Director
For further information, please contact:
Jonathan Fruchter
Chief Executive Officer, President and Director
+1 (203) 905-9939
jonathan@silverstockmetals.com
Reader Advisory
This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "propose," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Without limiting the generality of the foregoing statements, the proposed use of the proceeds of the Offering is forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THISRESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
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