/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, Nov. 15, 2017 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") announces a
non-brokered private placement of up to $4,000,000 (the "Private Placement") consisting
of 20,000,000 Units (the "Units") at a price of $0.20 per Unit (the "Placement Price"). A
non-solicited lead order of $2,000,000 has been received from a well-known
gold mining fund on a fully subscribed Private Placement basis.
Each Unit shall consist of one common share ("Common Share") and
one-half of a transferable common share purchase warrant
("Warrant"). Each Warrant entitles the holder to acquire one Common
Share at an exercise price of $0.30
for a period of 36 months immediately following the closing date of
the Private Placement. A finder's fee of 6% shall be paid at
the election of the Company in cash or Common Shares, of the
portion of the proceeds raised in the Private Placement through the
efforts of arm's length finders.
Net proceeds of the Private Placement will be used to fund the
exploration and development of the Company's La Cigarra project in
Chihuahua State, Mexico, possible
new acquisitions and for general working capital purposes.
All securities to be issued pursuant to the Private Placement
will be subject to a four month hold period from the closing date
under applicable securities laws in Canada and among other things, receipt by
Kootenay of all necessary regulatory approvals, including 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.
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.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
November 14, 2017. Certain statements
in this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" under the
provisions of Canadian provincial securities laws. These statements
can be identified by the use of words such as "expected", "may",
"will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Kootenay as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and
unknown, could cause actual results to be materially different from
those expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date made. Except as otherwise required by law, Kootenay
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect
any change in Kootenay's expectations or any change in events,
conditions or circumstances on which any such statement is based.
More particularly, this release contains statements concerning the
anticipated Private Placement and a potential lead order.
Accordingly, there is a risk that the Private Placement will not be
completely sold or the lead order will not fulfill its intended
subscription to the Private Placement, or the Private Placement
will be completed within the anticipated time or at all.
Cautionary Note to US Investors: This news
release may contain information about adjacent properties on which
we have no right to explore or mine. We advise U.S. investors that
the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned
that mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
This press release uses the terms "Measured", "Indicated",
and "Inferred" resources. United
States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States investors are cautioned not to
assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves.
United States investors are also
cautioned not to assume that all or any part of a Mineral Resource
is economically or legally mineable.
SOURCE Kootenay Silver Inc.