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VANCOUVER, British Columbia, May 13, 2020 (GLOBE NEWSWIRE) — Silver Viper Minerals Corp.  (“Silver Viper” or the “Company”) (TSX-V: VIPR) is pleased to announce that it has entered into a letter of engagement with Eight Capital, under which Eight Capital and Red Cloud Securities Inc., as co-lead agents and joint bookrunners, acting on behalf of a syndicate of agents for the Company (the “Agents”), shall offer for sale up to 13,889,000 units of the Company (the “Units”) on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Unit of C$0.36 (the “Issue Price”) for total gross proceeds of up to C$5,000,040 (the “Offering”).

Each Unit shall consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of C$0.50 for a period of 24 months following the Closing Date.

The Company has granted the Agents an over-allotment option to purchase up to an additional 2,778,000 Units at the Issue Price, exercisable in whole or in part, at any time on or prior to 48 hours prior to the closing of the Offering. If this option is exercised in full, an additional C$1,000,080 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be C$6,000,120.

The Company intends to use the net proceeds of the Offering to fund the development of the La Virginia project in Sonora, Mexico, and for working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about June 3, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

As consideration for their services, the Agents will receive a cash commission equal to 6% of the gross proceeds of the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About the Company

Silver Viper Minerals Inc 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

For Further Information please contact, please contact Silver Viper Minerals Corp. at (604) 687-8566, email [email protected] or visit our website at www.silverviperminerals.com

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.

Original Article: https://www.globenewswire.com/news-release/2020/05/13/2032609/0/en/Silver-Viper-Announces-C-5-Million-Private-Placement.html