NOCSF - Norseman Silver Inc. Announces $75000 Non-Brokered Financing
(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 15, 2021 –Norseman Silver Inc. (TSXV:NOC) (“Norseman” or the“Company”) is pleased to a non-brokered private placement of up to2,500,00 flow-through units of the Company (each, a “FT Unit”) ata price of $0.3 0per FT Unit for aggregate gross proceeds to the Company of up to$750,000 (the “Offering”).
Each FT Unit shall be comprised of one common share inthe capital of the Company (each, a “FT Share”) and one half ofone common share purchase warrant (each whole warrant, a“Warrant”), each of which will qualify as a “flow-throughshare” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”), with each Warrant entitlingthe holder thereof to purchase one additional common share, which willnot qualify as a “flow-through share”, at an exercise price of$0.34 for a period of two (2) years from the Closing Date (as definedbelow).
The Company may pay finder’s fees of cash fees equalto 7.0% of the gross proceeds of the Offering raised by individualfinders and finder warrants equal to 7.0% of the FT Units sold underthe Offering raised by individual finders (each a “FinderWarrant”). Each Finder Warrant will be exercisable to purchase onecommon share for a period of two (2) years from the Closing Date at anexercise price of $0.30 per share.
The gross proceeds raised from the sale of FT Unitswill only be used to incur “Canadian exploration expenses” thatare “flow-through mining expenditures” (as such terms are definedin the Tax Act). The Offering will be conducted in all provinces ofCanada pursuant to private placement exemptions. The closing of theOffering is subject to, among other things, the receipt of allnecessary approvals from the TSX Venture Exchange (the “TSXV”).Closing of the Offering will occur on December 30 th , 2021 orsuch other date selected by the Company (the “ClosingDate”).
Pursuant to applicable Canadian securities laws, allsecurities issued and issuable in connection with the Offering will besubject to a four (4) month hold period commencing on the ClosingDate.
For further information, please contact:
Sean Hurd
Chief Executive Officer
T: 604 505-4554
This press release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended, or anystate securities laws and may not be offered or sold within the UnitedStates or to or for the account or benefit of a U.S. person (asdefined in Regulation S under the United States Securities Act) unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKINGINFORMATION: This News Release includes certain "forward-lookingstatements" which are not comprised of historical facts. Forwardlooking statements include estimates andstatements that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward-lookingstatements may be identified by such terms as “believes”,“anticipates”, “expects”, “estimates”, “may”,“could”, “would”, “will”, or “plan”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to, the Company’s objectives, goals or future plans,statements, exploration results, potential mineralization, theestimation of mineral resources, exploration and mine developmentplans, timing of the commencement of operations and estimates ofmarket conditions. Factors that could cause actual results to differmaterially from such forward-looking information include, but are notlimited to failure to identify mineral resources, failure to convertestimated mineral resources to reserves, the inability to complete afeasibility study which recommends a production decision, thepreliminary nature of metallurgical test results, delays in obtainingor failures to obtain required governmental, environmental or otherproject approvals, political risks, inability to fulfill the duty toaccommodate indigenous peoples, uncertainties relating to theavailability and costs of financing needed in the future, changes inequity markets, inflation, changes in exchange rates, fluctuations incommodity prices, delays in the development of projects, capital andoperating costs varying significantly from estimates and the otherrisks involved in the mineral exploration and development industry, aninability to complete the Offering on the terms or on the timeline asannounced or at all, an inability to predict and counteract theeffects of COVID-19 on the business of the Company, including but notlimited to the effects of COVID-19 on the price of commodities,capital market conditions, restriction on labour and internationaltravel and supply chains, and those risks set out in the Company’spublic documents filed on SEDAR. Although the Company believes thatthe assumptions and factors used in preparing the forward-lookinginformation in this news release are reasonable, undue reliance shouldnot be placed on such information, which only applies as of the dateof this news release, and no assurance can be given that such eventswill occur in the disclosed time frames or at all. The Companydisclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law
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