Silver Crown Royalties Inc. is pleased to announce that it has closed its previously announced offering of subscription receipts. Pursuant to the Offering, Silver Crown Royalties issued 7,408,600 Subscription Receipts at a price of C$0.50 per Subscription Receipt for gross proceeds of C$3,704,300.

Each Subscription Receipt was converted into a unit of Silver Crown on June 28, 2024 upon the satisfaction of the escrow release conditions and the release of the Subscription Proceeds to Silver Crown. Each Unit consists of one common share in the capital of Silver Crown and one Common Share purchase warrant.

Immediately following the Escrow Release, Silver Crown completed its amalgamation with 1287412 B.C. Ltd.  a reporting issuer in British Columbia and Alberta, in accordance with terms of an amalgamation agreement dated May 16, 2024. In accordance with the terms of the Amalgamation Agreement, the securityholders of 128 and Silver Crown became securityholders of one company that is a reporting issuer in British Columbia and Alberta. Pursuant to the terms of the Amalgamation Agreement: (i) each outstanding Common Share and Warrant was exchanged on a 20 for 1 basis for common shares and warrants of the Resulting Issuer; and (ii) each outstanding 128 share was exchanged on a 53.5 to 1 basis for common shares of the Resulting Issuer. The Resulting Issuer will continue as Silver Crown Royalties Inc., as described in the press release dated May 16, 2024.

The Resulting Issuer has filed its initial listing statement with Cboe Canada Inc. and anticipates receipt of a conditional approval letter in the coming weeks. The Resulting Issuer anticipates listing its common shares on Cboe in Q3 2024.

Peter Bures, Silver Crown’s Chief Executive Officer, commented: “This is an exciting time for Silver Crown and its shareholders as we look to unlock value from our silver royalty portfolio as a public company. We believe a positive re-rate is possible, which will benefit our shareholders once Silver Crown starts trading amongst its peer group.”

Subsequent Financing

To further facilitate the Resulting Issuer’s growth initiatives, the Resulting Issuer will also undertake a subsequent financing to accommodate registered accounts at a price of C$10.00 per unit of the Resulting Issuer for gross proceeds of up to C$1,500,000. Each Subsequent Offering Unit consists of one common share and one warrant of the Resulting Issuer. Each whole Resulting Issuer Warrant entitles the holder thereof to purchase an additional Resulting Issuer Common Share at a price of $16.00 for a period of 3 years from closing of the Subsequent Offering. All securities issued pursuant to the Subsequent Offering will be subject to a standard four month hold.

ABOUT CBOE CANADA

Cboe Canada is Canada’s Tier 1 stock exchange for the purpose-driven Innovation Economy, providing a best-in-class listing experience for issuers that are shaping the economies of tomorrow. Fully operational since 2015, Cboe Canada lists investment products and companies seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Cboe Canada is part of the Cboe Global Markets network, leveraging deep international expertise, industry-leading market intelligence and technology, and unparalleled service to deliver what stakeholders and the world need now, and for the future.

ABOUT SILVER CROWN ROYALTIES INC.

Founded by industry veterans, SCRi is a pre-IPO stage revenue-generating silver-only royalty company focusing on silver as byproduct credits. SCRi aims to minimize the economic impact on mining projects while maximizing returns for shareholders. SCRi presently has two sources of revenues and continues to build on this foundation, targeting additional operational silver-producing projects.