Silver Grail increases financing to $1.15-million

Executive Summary

• Silver Grail Resources Ltd. is upsizing its previously announced non-brokered private placement to 5 million units due to strong demand, pending TSX Venture Exchange approval.
• The offering is priced at 23 cents per unit, targeting gross proceeds of up to $1.15 million.
• Proceeds will be allocated to 2025 exploration of the Ram property, further exploration of other Golden Triangle mineral properties, and general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement upsized to 5,000,000 units.
• Price: 23 cents per unit.
• Gross Proceeds: Up to $1,150,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable into one common share at an exercise price of 33 cents.
• Warrant Expiry: Two years from the date of closing.
• Fees: No finders' fees or commissions associated with the transaction.
• Hold Period: All securities are subject to a four-month hold period from the date of closing.
• Use of Proceeds:
  • 2025 exploration of the Ram property.
  • Further exploration of the company's other mineral properties in the Golden Triangle.
  • General corporate purposes.
• Insider Participation: Certain insiders intend to participate; this is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.

Notable Quotes

• None provided in the text.