VANCOUVER, BC, Dec. 20,
2023 /CNW/ - GR Silver Mining Ltd. ("GR Silver
Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT:
GPE) – The Company announces that further to its press release of
December 8, 2023, it has now issued
an aggregate of 1,343,891 common shares at a deemed price of
$0.075 per share to settle aggregate
debt of $100,792 outstanding as at
October 31, 2023.
Directors and officers of the Company (the "Insiders")
participated in the debt settlement transactions and received an
aggregate of 788,879 shares in consideration for settlement of an
aggregate $59,166 debt. Participation
by the Insiders is considered a "related party transaction"
pursuant to Multilateral Instrument 61-101 – Protection of Minority
Security Holders in Special Transactions ("MI 61-101"). The Company
is exempt from the requirements to obtain a formal valuation and
minority shareholder approval in connection with Insiders'
participation in reliance of sections 5.5(a) and 5.7(a) of MI
61-101, respectively, on the basis that the Insiders' participation
in the debt settlement transactions does not exceed 25% of the fair
market value of the Company's market capitalization.
All shares issued in relation to these debt settlements are
subject to a hold period expiring April 21,
2024, in accordance with applicable securities laws and the
policies of the TSX-V.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration
company engaged in cost effective silver-gold resource expansion on
its 100%-owned assets, located on the eastern edge of the Rosario
Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two
past producer precious metal underground and open pit mines, within
the Plomosas Project, which includes the integrated San Marcial
Area and former Plomosas Mine. In conjunction with a portfolio of
early to advanced stage exploration targets, the Company holds 734
km2 of concessions containing several structural
corridors totaling over 75 km in strike length.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair &
CEO
Cautionary Statement Regarding Forward-Looking
Information
This press release contains
"forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on
the beliefs of management and reflect the Company's current
expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these
words or such variations thereon or comparable terminology are
intended to identify forward-looking statements and information.
Such statements and information reflect the current view of the
Company. Risks and uncertainties may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements.
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 press release.
SOURCE GR Silver Mining Ltd.
