Silicon Metals closes $198,610 in private placements

Executive Summary

• Silicon Metals Corp. closed its non‑brokered private placement, raising $198,610 in gross proceeds from the issuance of 3,055,538 flow‑through common shares at C$0.065 per share.
• The company issued 64,800 finders’ warrants (exercisable at C$0.065) and paid C$4,212 in placement fees.
• Proceeds are earmarked for eligible exploration expenditures on the company’s projects in British Columbia and Ontario.

Key Details

• Offering Size: 3,055,538 flow‑through common shares sold at C$0.065 per share → gross proceeds of $198,610.
• Placement Fees: C$4,212 paid to advisors/agents.
• Finders’ Warrants: 64,800 warrants issued; each warrant converts into one common share at an exercise price of C$0.065, exercisable for 36 months from issuance.
• Statutory Hold Period: All securities subject to a hold period expiring four months and one day after the date of issuance per NI 45‑102.
• Use of Proceeds: To fund eligible exploration expenditures on Silicon Metals’ projects in British Columbia (Ptarmigan, Silica Ridge, Longworth) and Ontario (Maple Birch, Crystal Hills).

Notable Quotes

(No executive quotes were included in the release.)