Silicon Metals Corp. Closes Flow-Through Offering for Gross Proceeds of $198,610

Executive Summary

• Silicon Metals Corp. closed its previously announced non‑brokered private placement, raising total gross proceeds of $198,610.
• The offering consisted of 3,055,538 flow‑through common shares issued at $0.065 per share, plus issuance of 64,800 finder’s warrants (exercise price $0.065).
• Proceeds are earmarked for eligible exploration expenditures on the Company’s projects in British Columbia and Ontario.

Key Details

• Offering Size: Gross proceeds of $198,610 from sale of flow‑through shares.
• Share Quantity & Price: 3,055,538 Flow‑Through Shares at $0.065 each.
• Finder’s Warrants: 64,800 warrants issued; each convertible into one common share at $0.065, exercisable for 36 months from issuance.
• Fees Paid: $4,212 in transaction fees.
• Use of Proceeds: To fund eligible exploration expenditures on BC and Ontario projects (Maple Birch, Crystal Hills, Ptarmigan Silica, Silica Ridge, Longworth).
• Statutory Hold Period: All securities subject to a hold period expiring four months and one day after issuance per NI 45‑102.
• U.S. Offering Restrictions: Securities not registered under the U.S. Securities Act; cannot be offered or sold in the United States absent exemption.

Notable Quotes

“We are pleased to have successfully closed this financing, which provides us with the capital needed to advance our exploration programs across British Columbia and Ontario.” – Morgan Good, CEO & Director.