Silver One arranges $5-million private placement

Executive Summary

• Silver One Resources Inc. announced a non‑brokered private placement of 17,857,142 units at $0.28 per unit, raising approximately $5 million in gross proceeds.
• Each unit consists of one common share and one‑half of a common share purchase warrant; warrants allow purchase of additional shares at $0.40 for three years.
• Net proceeds are earmarked for exploration and drilling on the company’s Nevada and Arizona mineral properties and for general working capital.

Key Details

• Units offered: 17,857,142 units @ $0.28 per unit → gross proceeds ≈ $5 million.
• Unit composition: 1 common share + ½ common share purchase warrant.
• Warrant terms: Exercise price $0.40 per share; exercisable for three years from issuance.
• Resale restrictions: Securities subject to a lock‑up period of four months and one day after issue.
• Finder’s fees: Company may pay cash and/or additional warrants as compensation to finders.
• Use of proceeds: Primarily for exploration and drilling on existing mineral properties (Candelaria, Cherokee, Silver Phoenix) and for general working capital.
• Closing condition: Closing subject to acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were provided in the release.)