NOCSF - Norseman Silver Inc. Closes First Tranche of Flow Through Financing
(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 29 , 2021 – Norseman Silver Inc.(TSXV:NOC) (“ Norseman ” or the “ Company ”) ispleased to announce that, further to its press release of December 15,2021, it has closed the first tranche ofits non-brokered private placement (the“ PrivatePlacement ”) consisting of 1,683,334 flowthrough units (a “ FTUnit ”) at a price of $0.30 per FT Unit forgross proceeds of $505,000.20. Each FT Unit is comprised of onecommon share of the Company (each, a “ FT Share ”) and onehalf of one common share purchase warrant (each whole warrant, a“ Warrant ”). Each Warrant will entitle the holder to purchase oneadditional non-flow-through common share in the capital of the Companyat an exercise price of $0.34 for a period of two years from the dateof issuance. The FT Shares will qualify as flow-through shares forpurposes of the Income Tax Act (Canada).
The process proceeds of the Private Placement will beused for exploration on Norseman’s projects in British Columbia,Canada, and for general working capital.
Finder’s fees of $28,000 cash and 93,333 Warrantshave been paid in connection with the Private Placement to qualifiedparties. The Warrants issued to the finders have an exercise priceof $0.30 for a period of two years from the date of issuance.
All securities issued are subject to a statutory fourmonth and one day hold period from the date of issuance pursuant toapplicable securities laws of Canada.
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 and statements that describe theCompany’s future plans, objectives or goals, including words to theeffect that the Company or management expects a stated condition orresult to occur. Forward-looking statements may be identified by suchterms as “believes”, “anticipates”, “expects”,“estimates”, “may”, “could”, “would”, “will”, or“plan”. Since forward-looking statements are based on assumptionsand address future events and conditions, by their very nature theyinvolve inherent risks and uncertainties. Although these statementsare based on information currently available to the Company, theCompany provides no assurance that actual results will meetmanagement’s expectations. Risks, uncertainties and other factorsinvolved with forward-looking information couldcause actual events, results, performance, prospects and opportunitiesto differ materially from those expressed or implied by suchforward-looking information. Forward looking information in this newsrelease includes, but is not limited to, the Company’s objectives,goals or future plans, statements, exploration results, potentialmineralization, the estimation of mineral resources, exploration andmine development plans, timing of the commencement of operations andestimates of market conditions. Factors that could cause actualresults to differ materially from such forward-looking informationinclude, but are not limited to failure to identify mineral resources,failure to convert estimated mineral resources to reserves, theinability to complete a feasibility study which recommends aproduction decision, the preliminary nature of metallurgical testresults, delays in obtaining or failures to obtain requiredgovernmental, environmental or other project approvals, politicalrisks, inability to fulfill the duty to accommodate indigenouspeoples, uncertainties relating to the availability and costs offinancing needed in the future, changes in equity markets, inflation,changes in exchange rates, fluctuations in commodity prices, delays inthe development of projects, capital and operating costs varyingsignificantly from estimates and the other risks involved in themineral exploration and development industry, an inability to completethe Offering on the terms or on the timeline as announced or at all,an inability to predict and counteract the effects of COVID-19 on thebusiness of the Company, including but not limited to the effects ofCOVID-19 on the price of commodities, capital market conditions,restriction on labour and international travel and supply chains, andthose risks set out in the Company’s public documents filed onSEDAR. Although the Company believes that the assumptions and factorsused in preparing the forward-looking information in this news releaseare reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed time frames or at all. The Company disclaims any intentionor obligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,other than as required by law
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