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Silver North Resources Ltd
Symbol SNAG
Shares Issued 36,877,994
Close 2024-04-11 C$ 0.16
Market Cap C$ 5,900,479
Recent Sedar Documents

Silver North closes $650,000 private placement

2024-04-11 16:48 ET - News Release

Mr. Jason Weber reports

SILVER NORTH CLOSES NON-BROKERED PRIVATE PLACEMENT

Silver North Resources Ltd. has closed the financing announced on March 14, 2024 and updated April 4, 2024. The company raised $650,000 from the sale of 6.5 million units at 10 cents per unit.

Each unit consists of one common share and one non-transferable common share purchase warrant allowing the holder to buy an additional share for each full warrant at 20 cents per additional share until April 11, 2027. All securities are subject to a four-month hold from the dates of closing.

"Many of the participants in this financing are long-term holders and supporters of Silver North," stated Jason Weber, president and chief executive officer of Silver North. "We thank them for their continued support knowing this financing helps us to continue to execute our business plan 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 under the private placement. The placement to this person constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, adopted in the policy. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market 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 per cent of the company's market capitalization (as determined under MI 61-101).

Finders' fees of $28,210 in cash were paid to eligible parties.

About Silver North Resources Ltd.

Silver North's primary assets are its 100-per-cent-owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill mine project) and the Tim silver project (under option to Coeur Mining Inc.). Silver North also holds gold and base metal projects in Yukon, Colorado and Nevada and is actively seeking partners for them. Silver North also plans to acquire additional silver properties in favourable jurisdictions.

The Company is listed on the TSX-V under the symbol SNAG, trades on the OTCQB market in the United States under the symbol TARSF and under the symbol I90 on the Frankfurt Stock Exchange.

We seek Safe Harbor.

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