Silver Tiger closes $57.5-million bought deal offering

Executive Summary

• Silver Tiger Metals Inc. has closed its previously announced bought deal financing, raising gross proceeds of C$57,501,288 through the sale of common shares.
• The offering included the full exercise of the underwriters' overallotment option, resulting in the issuance of 49,146,400 shares at a price of $1.17 per share.
• Proceeds are designated for exploration and development at the El Tigre project in Mexico, as well as for working capital and general corporate purposes.

Key Details

• Transaction Type: Bought Deal Financing (Closed)
• Gross Proceeds: C$57,501,288
• Shares Issued: 49,146,400 common shares
• Price Per Share: $1.17
• Overallotment: The underwriters' overallotment option was exercised in full.
• Use of Proceeds: Finance exploration and development expenditures at the El Tigre project in Mexico; working capital; and general corporate purposes.
• Underwriters:
  • Co-lead underwriters and joint bookrunners: Stifel Canada and BMO Capital Markets
  • Other underwriters: Desjardins Capital Markets and Canaccord Genuity Corp.
• Underwriter Compensation: Cash commission of 5.5% on gross proceeds.
• Jurisdiction: Completed via short form prospectus in all Canadian provinces except Quebec, and outside Canada.

Notable Quotes

• None provided in the text.