NOCSF - Norseman Silver Inc. Closes Second and Final Tranche of Flow Through Financing
(TheNewswire)
Vancouver, British Columbia - TheNewswire – December 31 , 2021 – Norseman Silver Inc.(TSXV:NOC) (“ Norseman ” or the “ Company ”) ispleased to announce that, further to its press releases of December15, 2021 and December 29, 2021, it has closed the second and final tranche of its non-brokered private placement (the “ Private Placement ”)consisting of 250,000 flow through units (a “ FTUnit ”) at a price of $0.30 per FT Unit forgross proceeds of $ 75,000 . Each FT Unit is comprised of one common share of the Company (each,a “ FT Share ”) and one half of one common share purchase warrant (eachwhole warrant, a “ Warrant ”). Each Warrant will entitle theholder to purchase one additional non-flow-through common share in thecapital of the Company at an exercise price of $0.34 for a period oftwo years from the date of issuance. The FT Shares will qualify asflow-through shares for purposes 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 $2,100 cash and 7,000 Warrants havebeen 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 could cause actual events,results, performance, prospects and opportunities to differ materially from those expressed or implied bysuch forward-looking information. Forward looking information in thisnews release includes, but is not limited to, the Company’sobjectives, goals or future plans, statements, exploration results,potential mineralization, the estimation of mineral resources,exploration and mine development plans, timing of the commencement ofoperations and estimates of market conditions. Factors that couldcause actual results to differ materially from such forward-lookinginformation include, but are not limited to failure to identifymineral resources, failure to convert estimated mineral resources toreserves, the inability to complete a feasibility study whichrecommends a production decision, the preliminary nature ofmetallurgical test results, delays in obtaining or failures to obtainrequired governmental, environmental or other project approvals,political risks, inability to fulfill the duty to accommodateindigenous peoples, uncertainties relating to the availability andcosts of financing needed in the future, changes in equity markets,inflation, changes in exchange rates, fluctuations in commodityprices, delays in the development of projects, capital and operatingcosts varying significantly from estimates and the other risksinvolved 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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