(TheNewswire)
Vancouver, BC, April 11,2024 – TheNewswire –S ilver North ResourcesLtd. (TSX-V: SNAG, OTCQB:TARSF, Frankfurt: I90, “ Silver North ” or the “ Company ”) is pleased to report that it has closed thefinancing announced on March 14, 2024 and updated April 4, 2024. TheCompany raised $650,000 from the sale of 6,500,000 “Units” at$0.10 per Unit.
Each Unit consists of one common share and one non-transferable commonshare purchase warrant allowing the holder to buy an additional sharefor each full warrant at $0.20 per additional share until April 11,2027. All securities are subject to a four-month hold from the datesof closing.
“Many of the participants in this financing are long term holdersand supporters of Silver North,” stated Jason Weber, President andCEO of Silver North. “We thank them for their continued supportknowing this financing helps us to continue to execute our businessplan and not only build on our high grade silver results at Haldane,but potentially make new discoveries as well.”
An officer of the Company purchased 100,000 Units underthe private placement. The placement to this person constitutes a“related party transaction” within the meaning of TSX VentureExchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (“MI 61-101”) adoptedin the Policy. The Company has relied on exemptions from the formalvaluation and minority shareholder approval requirements of MI 61-101contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect ofrelated party participation in the placement as neither the fairmarket value (as determined under MI 61-101) of the subject matter of,nor the fair market value of the consideration for, the transaction,insofar as it involved the related parties, exceeded 25% of theCompany's market capitalization (as determined under MI61-101).
Finder’s fees of $28,210 in cash were paid to eligible parties.
This news release does not constitute an offer of securities for salein the United States. The securities being offered have not been, norwill they be, registered under the United States Securities Act of1933, as amended, and such securities may not be offered or soldwithin the United States absent U.S. registration or an applicableexemption from U.S. registration requirements.
AboutSilver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silverproject (next to Hecla Mining Inc.’s Keno Hill Mine project) and theTim silver project (under option to Coeur Mining, Inc.). SilverNorth also holds gold and base metal projects in Yukon Territory,Colorado and Nevada and is actively seeking partners for them. SilverNorth also plans to acquire additional silver properties in favourablejurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol“SNAG”, trades on the OTCQB market in the US under the symbol“TARSF”, and under the symbol “I90” on the Frankfurt StockExchange.
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
Twitter:
LinkedIn:
NEITHER THE 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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'SFUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDEFORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ONNUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS ANDUNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS ARESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
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