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VANCOUVER, BC, Dec. 18, 2023 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSXV: VIPR) (OTC: VIPRF) announced today that the Company intends to amend its non-brokered private placement financing (the "Amended Offering") to raise gross proceeds of up to approximately $2,000,000 from the sale of up to 20,000,000 units ("Units") at a price of $0.10 per Unit, each Unit consisting of one common share of the Company (each, a "Share") and one warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Share from the Company at a price of $0.20 per Share for a period of 24 months from its date of issue.

Silver Viper Minerals Corp. logo (CNW Group/Silver Viper Minerals Corp.)

Concurrently with the announcement of the Amended Offering, the Company is terminating its previously announced non-brokered private placement pursuant to the Listed Issuer Financing Exemption (the "LIFE") of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Offering"). In connection with the termination of the LIFE Offering, the Company is withdrawing the offering document that it filed on December 8, 2023, with respect to the LIFE Offering. Purchasers under the Amended Offering should not rely on such offering document.

The Issuer intends to use the proceeds from the Offering to make its final US$200,000 option payment on its La Virginia Project due in June 2024 and for working capital and other general corporate purposes.

The Amened Offering is anticipated to close in a series of tranches, with the first tranche on or about December 22, 2023, subject to the approval of the TSX Venture Exchange, receipt of any other required regulatory approvals and other customary closing conditions.

The Units and the securities underlying the Units issuable pursuant to the Amended Offering will be subject to a statutory hold period of four months and one day from the date of issuance of the Units in accordance with applicable Canadian securities laws.

The Company may pay a finder's fee in respect of those purchasers under the Amended Offering introduced to the Company by certain persons (each a "Finder"). Each Finder will receive a cash payment equal to 6% of the gross proceeds received by the Company from purchasers under the Amended Offering who were introduced to the Company by such Finder.

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 is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS

Steve Cope
President and CEO

Forward Looking Information

This news release may contain forward-looking statements, including statements with respect to the terms of the Amended Offering, the receipt of regulatory approvals for the Amended Offering and closing of the Amended Offering. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. 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, management discussion and analysis and/or annual information form available on www.sedarplus.com. The risk factors identified in such documents are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law.

Neither 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.

Copyright 2023 Canada NewsWire

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