Silver Wolf Exploration arranges $1.5-million financing

Executive Summary

• Silver Wolf Exploration Ltd. has announced a non-brokered private placement of up to 10 million units at 15 cents per unit, raising up to CAD $1.5 million, with a minimum raise of CAD $900,000 (6 million units).
• The net proceeds will be primarily allocated to a 13-hole, 3,000-metre drill program at the Skarn target on the Ana Maria property in Mexico, with remaining funds for general working capital.
• Each unit consists of one common share and one-half of one non-transferable warrant, exercisable at 25 cents per share for 36 months.

Key Details

• Offering Structure: Non-brokered private placement of units.
• Price: 15 cents CAD per unit.
• Maximum Gross Proceeds: Up to $1.5 million CAD (10 million units).
• Minimum Gross Proceeds: $900,000 CAD (6 million units).
• Unit Composition: Each unit comprises one common share and one-half of one non-transferable common share purchase warrant.
• Warrant Terms: Each whole warrant allows the purchase of one additional common share at an exercise price of 25 cents CAD. Warrants are exercisable for 36 months from issuance.
• Use of Proceeds:
  • Primary: Funding a 13-hole, 3,000-metre drill program at the Skarn target on the central claim at the Ana Maria property in Mexico.
  • Secondary: General working capital requirements.
• Regulatory Status: Subject to TSX Venture Exchange acceptance; utilizing the listed issuer financing exemption. Shares issued are free trading except in certain cases.
• Insider Participation: Directors/officers may participate, constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101 (as insider subscription/consideration will not exceed 25% of market cap). Common shares issued to insiders may have a four-month resale restriction.
• Jurisdiction: Offered in all Canadian provinces except Quebec, and in offshore jurisdictions/US to qualified institutional buyers (Rule 144A) and accredited investors (Regulation D).

Notable Quotes

• No direct quotes from management were included in the provided text.