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TSX.V: VIPR, OTC:VIPRF
VANCOUVER, BC, June 10, 2021 /CNW/ – Silver Viper Minerals Corp. (“Silver Viper” or the “Company“) (TSXV: VIPR) is pleased to announce that it has closed the final tranche (the “Final Tranche“) of its non-brokered private placement (the “Offering“) announced on May 25, 2021. The Final Tranche was comprised of 3,048,896 units of the Company (the “Units“) at a price of $0.47 per Unit for aggregate gross proceeds of $1.43 million.
Each Unit consists of one common share (each, a “Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Share at the price of $0.65 per Share for a period of 24 months from today’s date. The Shares and the Warrants comprising the Units and any Shares issued upon the exercise of the Warrants are subject to a statutory hold period which expires on October 11, 2021.
Aggregate gross proceeds under the Offering were $6 million. Silver Viper intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
The Company has agreed to pay a finder’s fee to certain finders in respect of those purchasers under the Offering introduced to the Company by such finder. In connection with the closing of the Offering, Silver Viper will pay finder’s fees of $42,300 to Blue Lake Advisors, $11,939 to Amvest Capital (acting through Four Points Capital Partners, LLC), $6,135 to Red Cloud Securities Inc., $2,820 to Echelon Wealth Partners, $902 to Canaccord Genuity Corp. and $705 to Haywood Securities Inc.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
The Company also announces that it has granted an aggregate of 3,120,000 incentive stock options (the “Options“) to directors, officers, and consultants to purchase up to 3,120,000 Shares. The Options have an exercise price of $0.78 per Share, expire five years from the date of grant and vest immediately. As a result of this grant of Options, Silver Viper has 7,755,000 Options outstanding, representing 8.2% of the issued and outstanding Shares.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from PAAS and an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. The property is an early-stage exploration property, targeting a series of laterally extensive intrusive dykes and breccia zones, hosting low-sulphidation epithermal gold-silver mineralization. Silver Viper is under management provided by Belcarra Group Management Ltd. which is comprised of highly qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company’s financial statements available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER THE 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.
SOURCE Silver Viper Minerals Corp.
For further information: Silver Viper Minerals Corp. at 604-687-8566, email [email protected] or visit our website at www.silverviperminerals.com
