Silver One Announces Closing of Final Tranche of $32 Million Financing

Executive Summary

• Silver One Resources closed the second and final tranche of its non‑brokered private placement, raising $922,200 in gross proceeds.
• The total offering now totals 55,173,000 units for aggregate gross proceeds of $32,000,340 at $0.58 per unit.
• Net proceeds are earmarked for drilling, exploration, metallurgical and environmental work, a pre‑feasibility study, claim payments, and general working capital on the Candelaria Project and other properties.

Key Details

• Units Issued (Second Tranche): 1,590,000 units at $0.58 per unit → gross proceeds: $922,200.
• Total Units Issued (Entire Offering): 55,173,000 units at $0.58 per unit → aggregate gross proceeds: $32,000,340.
• Unit Composition: Each unit = 1 common share + ½ of a common‑share purchase warrant (full warrant allows purchase of one additional share at $0.80 for three years).
• Finder Fees Paid: $1,834,754 cash fee; no finder’s warrants issued.
• Use of Net Proceeds:
  1. Drilling program at the Candelaria Project.
  2. Exploration and geophysics work on other mineral properties.
  3. Metallurgical and environmental studies for Candelaria.
  4. Preparation of a pre‑feasibility study for Candelaria.
  5. Annual mineral claim payments to the U.S. Bureau of Land Management.
  6. Additional exploration drilling on company properties.
  7. General working capital.
• Regulatory Exemption: Units offered to Canadian investors under NI 45‑106 Part 5A (exempt from prospectus); no hold period in Canada (excluding Quebec).
• U.S. Offering Disclaimer: Securities not registered under the U.S. Securities Act; sales prohibited in the United States except via exemptions or registration.

Notable Quotes

(No executive quotes were included in this release.)