Silver Sands closes financing, arranges debt settlement

Executive Summary

• Silver Sands Resources Corp. has closed a private placement financing and executed debt settlement agreements with three directors and the corporate secretary.
• The private placement involved the issuance of 6,499,333 units at 7.5 cents per unit, generating gross proceeds of approximately $487,450.
• Debt settlement involved issuing 2,365,000 units to settle $177,375 in indebtedness, preserving cash for operations.
• The transactions are subject to Canadian Securities Exchange approval and include a four-month-and-one-day hold period for the issued securities.

Key Details

• Private Placement Structure: Issued 6,499,333 units at a price of 7.5 cents per unit.
• Gross Proceeds: $487,449.98.
• Unit Composition: Each unit consists of one common share and one-half of one transferable share purchase warrant.
• Warrant Terms: Each whole warrant is exercisable at 15 cents per common share for a period of 24 months from closing.
• Finder’s Fees: 7% cash fees totaling $20,571.25 were paid; additionally, 274,283 non-transferable finders' warrants were issued to registered finders.
• Debt Settlement Details: Aggregated 2,365,000 units issued at a deemed price of 7.5 cents per unit to settle $177,375.00 in indebtedness owed to three directors and the corporate secretary.
• Total Securities Issued: Aggregate of 8,864,333 common shares and 4,432,166 warrants.
• Hold Period: All securities are subject to a four-month-and-one-day hold period until June 14, 2026.
• Use of Proceeds: General working capital and property investigation.
• Regulatory Status: Transactions are subject to approval by the Canadian Securities Exchange.