NOCSF - Norseman Silver Inc. Updates $1500000 Non-Brokered Private Placement
(TheNewswire)
Vancouver, British Columbia - TheNewswire – July 30, 2021 –Norseman Silver Inc. (TSXV:NOC) (“ Norseman ” or the“ Company ”) would like to amend the proposed non-brokered privateplacement financing (the '' Offering '') announced on July 19, 2021. In theCompany’s July 19, 2021 news release, the Company noted that eachwarrant in the $1,500,000 non-brokered private placement composed ofup to 4,545,454.55 units (“ Units ”) at a price of CAD$0.33 per Unit andentitled the holder to purchase one common share at a price of CAD$0.43 per common share until the date which is twelve (12) months fromthe date of issuance. The warrant terms have been amended to allow theholder to purchase one common share at a price of CAD $0.43 until thedate which is twenty-four (24) months from the date ofissuance”.
The Company intends to use the net proceeds from theOffering for general corporate and working capital purposes, as wellas drilling on the Silver Vista property and exploration onNorseman’s silver assets in British Columbia and Argentina. TheOffering is subject to certain conditions including, but not limitedto, the receipt of all necessary approvals, including the approval ofthe TSX Venture Exchange and applicable securities regulatoryauthorities. All securities issued and issuable pursuant to theOffering will be subject to a four month and one day statutory holdperiod.
On behalf of the Board
Sean Hurd
President & CEO
This press release does notconstitute an offer to sell or a solicitation of an offer to buy anyof the securities in the United States. The securities have not beenand will not be registered under the United States Securities Act of1933, as amended, or any state securities laws and may not be offeredor sold within the United States or to or for the account or benefitof a U.S. person (as defined in Regulation S under the United StatesSecurities Act) unless registered under the U.S. Securities Act andapplicable state securities laws or an exemption from suchregistration is available.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION: This News Release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward looking 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 identifiedby such terms 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 materiallyfrom those 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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