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Kootenay Closes $2 Million Investment from Sprott Asset Management

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Kootenay Closes $2 Million Investment from Sprott Asset Management

 

 

 

 

 

Kootenay Silver Inc. (TSX-V: KTN) is pleased to announce the closing of its non-brokered private placement of $2,000,000 consisting of 7,692,308 units at a price of $0.26 per Unit, announced October 4, 2019. The entire Private Placement was fully subscribed by Ninepoint Silver Equities Class with Sprott Asset Management LP acting as sub-advisor.

 

Each Unit consists of one common share (a “Common Share”) and one-half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one common share at an exercise price of $0.40 per share until October 11, 2021.

 

Net proceeds of the Private Placement will be used to advance exploration of the Columba Silver Project in Chihuahua State, Mexico, and to fund further work at Copalito, La Cigarra and other projects as well as for general working capital purposes.

 

All securities issued pursuant to the Private Placement are subject to a four month hold period under applicable securities laws in Canada ending on February 12, 2020. The Private Placement is subject to the final acceptance of the TSX Venture Exchange.

 

The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

About Kootenay Silver Inc.

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.

 

Posted October 15, 2019

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