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GR Silver Mining Completes $1.2 Million Non-Brokered Private Placement Financing

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GR Silver Mining Completes $1.2 Million Non-Brokered Private Placement Financing

 

 

 

 

 

GR Silver Mining Ltd. (TSX-V: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) is pleased to announce it has closed the non-brokered private placement previously announced on October 24, 2023. Under the Offering, the Company has issued 30 million units for gross proceeds of $1.2 million. No finder’s fees were paid in connection with the Offering. All securities issued under the Offering are subject to a hold period expiring March 11, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

 

 

The proposed use of proceeds from the Offering is: (i) approximately 29% of the gross proceeds of the Offering will be used to pay outstanding amounts currently owing to persons who are arm’s length to the Company; (ii) approximately 4% of the gross proceeds will be used to pay outstanding amounts owing to management and directors of the Company; and (iii) the balance of the proceeds will be used to fund general working capital. No proceeds under the Offering are expected to be paid to persons conducting Investor Relations Activities (as such term is defined in TSXV policies).

 

“GR Silver Mining is very pleased to welcome several new shareholders with a long-term view aligned with management’s vision for the Company”, noted CEO and Chair Eric Zaunscherb. “In the wake of a positive resource update Management has worked tirelessly to reduce overhead expenses and is currently evaluating several strategic initiatives to pave the way forward.”

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

 

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km2 of concessions containing several structural corridors totaling over 75 km in strike length.

 

Posted November 14, 2023

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