/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Feb. 14, 2022 /CNW/ - Kootenay Silver
Inc. ("Kootenay" or the "Company") (TSXV: KTN)
announces that, due to strong investor demand, it has agreed with
Research Capital Corporation, as sole agent and sole bookrunner
(the "Agent"), to further increase the size of the
previously announced best efforts private placement offering of
units of the Company (the "Units") at a price of
$0.16 per Unit (the "Offering
Price") for gross proceeds of up to $5,434,782.72 (the "Offering").
Each Unit will be comprised of one common share of the Company
(a "Common Share") and one Common Share purchase warrant (a
"Warrant"). Each Warrant shall be exercisable to acquire one
Common Share (a "Warrant Share") at an exercise price of
$0.22 per Warrant Share for a period
of 36 months from the closing of the Offering.
All other terms remain as described on the Company's new release
dated February 9, 2022. The Company
intends to use the net proceeds from the Offering for working
capital requirements and other general corporate purposes.
The Agent will have an option (the "Agent's Option") to
offer for sale up to an additional 15% of the number of Units sold
in the Offering at the Offering Price, which Agent's Option is
exercisable, in whole or in part, at any time up to 48 hours prior
to the closing of the Offering.
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.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
February 13, 2022. 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.
Cautionary Note to US Investors: This news release
includes Mineral Reserves and Mineral Resources classification
terms that comply with reporting standards in Canada and the Mineral Reserves and the
Mineral Resources estimates are made in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
("NI 43-101"). NI 43-101 is a rule developed by the Canadian
Securities Administrators that establishes standards for all public
disclosure an issuer makes of scientific and technical information
concerning mineral projects. These standards differ significantly
from the requirements adopted by the U.S. Securities and Exchange
Commission (the "SEC"). The SEC sets rules that are applicable to
domestic United States reporting
companies. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
SOURCE Kootenay Silver Inc.