Silver One Increases Private Financing to $6,016,600

Executive Summary

• Silver One Resources increased its oversubscribed non‑brokered private placement to 21,487,857 units at $0.28 per unit, generating total gross proceeds of $6,016,600.
• Each unit consists of one common share and half of a common‑share purchase warrant (full warrant exercisable at $0.40 for three years).
• Net proceeds are earmarked for exploration and drilling on the Company’s mineral properties and general working capital.

Key Details

• Units Offered: 21,487,857 units (up from previously announced amount)
• Price per Unit: $0.28
• Total Gross Proceeds: $6,016,600
• Unit Composition:
• 1 common share
• ½ of a common‑share purchase warrant (full warrant gives right to buy one common share at $0.40)
• Warrant Terms: Exercise price $0.40; exercisable for three years from issuance.
• Resale Restrictions: Securities subject to resale restrictions expiring four months and one day after issue.
• Finder’s Fees: Company may pay cash and/or additional warrants as finder’s compensation.
• Use of Proceeds: Primarily for exploration and drilling on existing mineral properties (Candelaria, Cherokee, Silver Phoenix) and for general working capital.
• Closing Condition: Subject to acceptance by the TSX Venture Exchange.
• Regulatory Note: Securities not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption.

Notable Quotes

(No direct quotes were provided in the release.)