Silver Sands Proceeds to Private Placement and Debt Settlement

Executive Summary

• Silver Sands Resources Corp. announced a private placement of up to 6,500,000 Units at $0.075 per Unit for gross proceeds of up to $487,500.
• The company also entered into debt settlement agreements issuing 2,365,000 Units to settle CAD $177,375 of indebtedness owed to two directors, the corporate secretary and a consultant.
• Combined, the transactions will result in an aggregate issuance of 8,865,000 common shares and 4,432,500 warrants, subject to a four‑month‑plus hold period, with closing expected on or before February 10, 2026.

Key Details

• Private Placement:
• Up to 6,500,000 Units @ $0.075 per Unit → maximum gross proceeds of $487,500.
• Each Unit = 1 common share ($0.075) + ½ transferable share purchase warrant.
• Warrants exercisable at $0.15 per share for 24 months from closing.

• 7% finder’s fees may be paid in cash and/or warrants on a portion of the placement.

• Debt Settlement:

• Issuance of 2,365,000 Units (same composition as above) at a deemed price of $0.075 per Unit to settle CAD $177,375 owed to two directors, the corporate secretary, and one consultant (arm’s‑length third party).

• Overall Issuance:

• Total common shares to be issued: 8,865,000.
• Total warrants to be issued: 4,432,500.

• All securities subject to a hold period of four months and one day.

• Closing Timeline:

• Both the private placement and debt settlement are expected to close on or before February 10, 2026, pending CSE approval.

• Purpose:

• Proceeds will be used to preserve cash for ongoing operations while settling outstanding indebtedness with equity and warrants rather than cash.

Notable Quotes

(No direct quotes were provided in the release.)