Mr. Peter Dembicki reports
TIER ONE SILVER ANNOUNCES C$3.0 MILLION NON-BROKERED PRIVATE PLACEMENT
Tier One Silver Inc. is undertaking a non-brokered private placement for up to $3-million from the sale of 6,666,667 units at a price of 45 cents per unit. Each unit will consist of one common share and one common share purchase warrant exercisable at a price of 75 cents until the date that is three years from the closing date of the placement, targeted for May 30, 2022. The warrants are subject to accelerated expiry if the closing price of the common shares of the company is greater than $1.50 for 10 consecutive trading days on the TSX Venture Exchange any time after the first 12 months from the initial tranche closing.
The company intends to use the net proceeds from the placement to finance continued exploration at the company's portfolio of assets in Peru, primarily Curibaya, and for general working capital.
The placement is subject to receipt of executed subscription agreements and funds as well as customary closing conditions, including conditional approval from the TSX-V.
In accordance with applicable securities laws, the shares and warrants issued under the placement will be sold to accredited investors or other investors who are exempt from prospectus requirements and will be subject to a statutory four-month resale restricted hold period in Canada. While the placement is non-brokered, referral fees may be paid on a portion of the proceeds to eligible persons, where permitted by applicable law.
About Tier One Silver Inc.
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The company's management and technical teams have a strong record in raising capital, discovery and monetization of exploration success. The company's exploration assets in Peru include: Hurricane Silver, Coastal Batholith, Corisur and the flagship project, Curibaya.
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