Mr. Peter Ball reports
SILVER HAMMER ANNOUNCES FIRST TRANCHE CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF UNITS
Silver Hammer Mining Corp., further to its news release of Oct. 28, 2024, has closed the first tranche of its non-brokered private placement, issuing 3,072,700 units at 5.5 cents per unit for gross proceeds of $168,998.50 raised. Each unit consists of one common share in the capital of the company and one transferrable common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at a price of seven cents for a period of three years from the closing of the offering.
"Silver Hammer continues to push forward to prepare for 2025. With minimal burn rate and 100-per-cent ownership of our projects, we are pleased to bring in new shareholders and focus on a second tranche in early 2025, to ensure we minimizing shareholder dilution," stated Peter A. Ball, president and chief executive officer.
In connection with the offering, the company paid finders' fees totalling $5,285 cash and 96,089 non-transferable finders' warrants. Each finder's warrant entitles the holder to acquire one share at a price of seven cents per share for a period of three years from the date of issuance.
Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Canadian Securities Exchange. All securities issued in connection with the offering are subject to a statutory hold period of four months expiring on April 17, 2025, in accordance with applicable securities legislation.
The company intends to use the proceeds raised from the offering to advance exploration efforts at its 100-per-cent-controlled projects, which include Silver Strand in Idaho, and Eliza and Silverton in Nevada, and for working capital and general corporate purposes.
About Silver Hammer Mining Corp.
Silver Hammer is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100 per cent of the Silver Strand mine in the Coeur d'Alene mining district in Idaho, as well both the Eliza silver project and the Silverton silver mine in Nevada, and the Lacy gold project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The company's portfolio also provides exposure to copper and gold discoveries.
We seek Safe Harbor.
© 2025 Canjex Publishing Ltd. All rights reserved.