VANCOUVER, BC, May 8, 2023
/CNW/ - Kootenay Silver Inc. ("Kootenay" or the
"Company") (TSXV: KTN) announces that on May 5, 2023,
Kootenay sold common shares (the "Aztec Shares") of Aztec
Minerals Corp. ("Aztec") in several market transactions.
Prior to the sale of the Aztec Shares, Kootenay beneficially
owned and had control over approximately 11.85% of the outstanding
Aztec Shares. As a result of the disposition, Kootenay's ownership
of the Aztec Shares decreased to 7,601,500 Aztec Shares,
representing approximately 8.02% on a non–diluted basis. As a
result, Kootenay ceased to be an insider of Aztec. Total
gross consideration received by Kootenay was $962,445 . Funds from the sale will be used
for working capital purposes.
The Aztec Shares held by Kootenay were originally acquired for
investment purposes only. Kootenay currently has no plans or
intentions that relate to, or would result in, any of the actions
requiring disclosure under applicable early warning reporting
provisions. In accordance with applicable securities laws and the
policies of the TSXV, Kootenay may, from time-to-time, acquire or
dispose of additional Aztec Shares in the open market or otherwise,
depending on market conditions, the business and prospects of
Aztec, the financial requirements of Kootenay, and other relevant
factors.
Aztec's head office is located at Suite #1610 – 777 Dunsmuir
Street, Vancouver, British
Columbia V7Y 1K4. A copy of the early warning report
with respect to the foregoing will appear on Aztec's profile on the
System for Electronic Document Analysis and Retrieval at
www.sedar.com and may also be obtained by contacting the Company at
the phone number below. The head office of Kootenay is located at
Suite 1125 – 595 Howe Street, Vancouver,
British Columbia V6C 2T5.
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.
Supported by one of the largest junior 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 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 defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the contents
of this news release.
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SOURCE Kootenay Silver Inc.