Month: May 2016

IMPACT Silver Corp. is pleased to announce that it has completed the first tranche of the brokered private placement announced on May 20, 2016. The placement raised a total of $2,530,800 by the issue of 4,440,000 worth of units at a price of $0.57 per Unit. Each Unit consists of one common share and one-half of one warrant. Each whole warrant entitles the holder to purchase one common share per Warrant at a price of $0.90 per Share for a period of 36 months from the date of issuance.

Golden Tag Resources Ltd. announces that it will seek to raise up to $900,000 through the issuance of up to 18 million equity units, each Unit consisting of one common share and one five year Share purchase warrant. Each Warrant entitles the holder to purchase one Share at a price of $0.07 per Share if exercised in the first year and $0.12 per share if exercised in years two through five from Closing. Insiders of Golden Tag may subscribe for $170,000 (3.4 million Units) of the placement, of which $100,000 is subject to shareholders approval at the 2016 shareholders meeting which has been rescheduled to June 27, 2016 in Montreal. The terms of the placement and any finders fees are subject to TSX Venture acceptance. Completion is targeted for June 27, 2016 and is subject to the negotiation and execution of definitive agreements as well as customary closing conditions. Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 with any excess to be used for general corporate purposes. The placement is subject to a condition that a minimum amount of $500,000 being raised to allow the acquisition of the 50% interest in the San Diego project however this condition may be waived by the subscribers.

Alset Energy Corp. is pleased to announce that the Company has formed a specialty committee and hired expert personnel to help with the evaluation, advancement and potential development of the lithium-, potassium- and boron-rich salars in which the Company has an option to purchase under the previously announced binding Letter of Intent from Litio Mex, S.A.de C.V. of Zacatecas, Mexico. The new committee will be led by Mr. Tim Oliver, previously of Lithium-X Energy Corp. and will be joined by Mr. David Hawkins and Mr. Brian Robertson.

Net proceeds from the private placement will be used for working capital and costs associated with claim maintenance, permitting and other exploration expenses. Specifically, some proceeds will be applied towards the assessment of the Oro property in New Mexico. Surface exploration consisting of prospecting and trenching is planned to resolve targeting prior to permitting the next phase of drilling on the project.

Managing Director, Mr Adrian Griffin: “At Lithium Australia we recognize the value of innovation in developing process solutions. Our success in developing the Sileach™ process for spodumene is a great example and we strongly believe we can develop a processing strategy to enhance the commercial opportunity provided by processing lithium clays.”

Americas Silver Corporation announced today that its Board of Directors has elected director Alex Davidson to the role of Chairman of the Board, effective today. Peter Hawley has stepped down as Chairman but will continue to act as a Director of the Company.

“We have achieved constructive progress both operationally and financially in the first quarter this year.” said Arturo Préstamo, President and CEO. “Our decision in Q3 2015 to move to an in-house mining team is now beginning to show the benefits. In addition, our change in mining method to cut-and-fill has resulted in better dilution control and consequently improved head grade. These measures were taken in order to produce efficient ounces and have resulted in the reduced costs you see in this first quarter. We will continue to implement cost saving initiatives going forward with a view to further reducing costs.”

Mark Backens, Interim CEO of Timmins Gold Corp., stated, “We very much appreciate the support of our shareholders. We would also like to take this opportunity to thank outgoing Board Member Luc Lessard for his contribution to the Company over the last two years.”

Morgan Poliquin, President of Almaden, states, “This financing allows us to continue the advancement of Ixtaca towards pre-feasibility and permitting, and also enables us to renew our exploration activities in areas proximal to the PEA pit. Since the discovery of this deposit in 2010, our work has been focused on resource drilling and engineering activities, and we are excited to revisit exploration potential in the immediate vicinity of the PEA pit.”