/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
VANCOUVER, Oct. 15, 2019 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce the closing of its non-brokered private placement of
$2,000,000 consisting of 7,692,308
units (the "Units") at a price of $0.26 per Unit (the "Placement Price"), announced
October 4, 2019. The entire Private
Placement was fully subscribed by Ninepoint Silver Equities Class
with Sprott Asset Management LP acting as sub-advisor.
Each Unit consists of one common share (a "Common Share") and
one-half of one non-transferable common share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant entitles the holder
to acquire one common share at an exercise price of $0.40 per share until October 11, 2021.
Net proceeds of the Private Placement will be used to advance
exploration of the Columba Silver Project in Chihuahua State,
Mexico, and to fund further work
at Copalito, La Cigarra and other projects as well as for general
working capital purposes.
All securities issued pursuant to the Private Placement are
subject to a four month hold period under applicable securities
laws in Canada ending on
February 12, 2020. The Private
Placement is subject to the final acceptance of 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.
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.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
October 14, 2019. 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 and include statements regarding the
intended use of the net proceeds of the Private Placement.
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, including receipt of the final
acceptance of the Private Placement from the TSX Venture Exchange.
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.
SOURCE Kootenay Silver Inc.