(TheNewswire)
Vancouver, BC, July 18,2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG,OTCQB: TARSF) “ SilverNorth ” or the “ Company ”) is pleased to announce that it has closed thethird and final tranche (the “ FinalTranche ”) of its non-brokered private placement (the “ Offering ”) for gross proceeds of$89,000. Further to the Company’s news releases dated June 21, 2024and June 28, 2024, the Company has raised aggregate gross proceeds of$827,380 in the Offering.
In connection with the closing of the Final Tranche the Company issued556,250 non-flow-through units of the Company (the “ NFT Units ”) at a price of $0.16per NFT Unit for gross proceeds of $89,000. Each NFT Unit is comprisedof one common share in the capital of the Company (a “ Share ”) and one common sharepurchase warrant (a “ Warrant ”) of the Company. Each Warrant entitles the holderthereof to purchase one Share (a “ Warrant Share ”) until July 18, 2028 at an exercise price of$0.35 per Warrant Share.
The Company intends to use the proceeds from the Final Tranche forgeneral corporate and working capital purposes.
In connection with the closing of the Final Tranche the Company issued10,937 finder’s warrants (the “ Finder’s Warrants ”) and paid a cash commission of $1,750to Canaccord Genuity Corp. Each Finder’s Warrant entitles the holderthereof to purchase one Share (a “ Finder’s Warrant Share ”) at a price of $0.16 perFinder’s Warrant Share until July 18, 2025. The Finder’s Warrantsissued in connection with the Final Tranche are subject to a statutoryhold period and may not be traded until November 19, 2024, except aspermitted by applicable securities legislation.
Subject to compliance with applicable regulatory requirements and inaccordance with National Instrument 45-106 – Prospectus Exemptions(“ NI 45-106 ”), a portionof the NFT Units, and the charity flow-through units (“ CFT Units ” and together with theNFT Units, the “ OfferedSecurities ”) were offered for sale to purchasers resident inCanada and/or other qualifying jurisdictions pursuant to the listedissuer financing exemption under Part 5A of NI 45-106 (the “ Listed Issuer FinancingExemption ”). Because a portion of the Offering was completedpursuant to the Listed Issuer Financing Exemption, that portion ofsecurities issuable from the sale of the Offered Securities toCanadian resident subscribers in the Offering are not subject to ahold period pursuant to applicable Canadian securities laws. 93,750NFT Units sold in the Final Tranche were issued pursuant to certainprivate placement exemptions under NI 45-106. Those NFT Units aresubject to a statutory hold period of four months and one day inaccordance with applicable Canadian securities laws. There is anoffering document related to the Offering that can be accessed underthe Company’s profile at www.sedarplus.ca and on the Company’swebsite at www.silvernorthres.com. Prospective investors should readthis offering document before making an investment decision.
The securities described herein have not been, and will not be,registered under the U.S. Securities Act, as amended, or any statesecurities laws, and accordingly, may not be offered or sold withinthe United States or the US persons except in compliance with theregistration requirements of the U.S. Securities Act and applicablestate securities requirements or pursuant to exemptions therefrom.This press release does not constitute an offer to sell or asolicitation to buy any securities in any jurisdiction.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silverproject (next to Hecla Mining Inc.’s Keno Hill Mine project), theTim silver project (under option to Coeur Mining, Inc. in theSilvertip/Midway District, BC and Yukon) and the GDR project also inthe Silvertip/Midway district. Silver North also plans to acquireadditional silver properties in favourable jurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol“SNAG”, trades on the OTCQB market in the United States under thesymbol “TARSF”, and under the symbol “I90” on the FrankfurtStock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North ResourcesLtd. is a Qualified Person as defined by National Instrument 43-101.Mr. Weber supervised the preparation of the technical informationcontained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807- 7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn: https://
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS ANDOBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKINGSTATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUSASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIESINHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUALRESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
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