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TSX.V: VIPR, OTC:VIPRF
VANCOUVER, BC, June 10, 2021 /CNW/ - Silver Viper Minerals
Corp. ("Silver Viper" or
the "Company") (TSXV: VIPR) is pleased to announce
that it has closed the final tranche (the "Final Tranche")
of its non-brokered private placement (the "Offering")
announced on May 25, 2021. The Final
Tranche was comprised of 3,048,896 units of the Company (the
"Units") at a price of $0.47
per Unit for aggregate gross proceeds of $1.43 million.
Each Unit consists of one common share (each, a "Share")
and one-half of one common share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant entitles the holder
thereof to acquire one Share at the price of $0.65 per Share for a period of 24 months from
today's date. The Shares and the Warrants comprising the Units and
any Shares issued upon the exercise of the Warrants are subject to
a statutory hold period which expires on October 11, 2021.
Aggregate gross proceeds under the Offering were $6 million. Silver Viper intends to use the net
proceeds from the Offering for working capital requirements and
other general corporate purposes.
The Company has agreed to pay a finder's fee to certain finders
in respect of those purchasers under the Offering introduced to the
Company by such finder. In connection with the closing of the
Offering, Silver Viper will pay finder's fees of $42,300 to Blue Lake Advisors, $11,939 to Amvest Capital (acting through Four
Points Capital Partners, LLC), $6,135
to Red Cloud Securities Inc., $2,820
to Echelon Wealth Partners, $902 to
Canaccord Genuity Corp. and $705 to
Haywood Securities Inc.
The securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and accordingly, may not be offered or sold within
the United States except in
compliance with the registration requirements of the U.S.
Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not
constitute an offer to sell or a solicitation to buy any securities
in any jurisdiction.
The Company also announces that it has granted an aggregate of
3,120,000 incentive stock options (the "Options") to
directors, officers, and consultants to purchase up to 3,120,000
Shares. The Options have an exercise price of $0.78 per Share, expire five years from the date
of grant and vest immediately. As a result of this grant of
Options, Silver Viper has 7,755,000 Options outstanding,
representing 8.2% of the issued and outstanding Shares.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral
exploration company focused on precious metals exploration in the
northwestern Mexican state of
Sonora. The Company currently operates the La Virginia
Gold-Silver Project. Silver Viper has 100% ownership of the La
Virginia concessions acquired from PAAS and an option to acquire a
100% interest in the Rubi-Esperanza group of claims internal to
those concessions. The property is an early-stage exploration
property, targeting a series of laterally extensive intrusive dykes
and breccia zones, hosting low-sulphidation epithermal gold-silver
mineralization. Silver Viper is under management provided by
Belcarra Group Management Ltd. which is comprised of highly
qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains
forward-looking statements. These statements reflect management's
current estimates, beliefs, intentions and expectations; they are
not guarantees of future performance. The Company cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. Such factors include,
among other things: risks and uncertainties relating to exploration
and development, the ability of the Company to obtain additional
financing, the need to comply with environmental and governmental
regulations, fluctuations in the prices of commodities, operating
hazards and risks, competition and other risks and uncertainties,
including those described in the Company's financial statements
available on www.sedar.com. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Silver Viper Minerals Corp.