Silver Hammer Announces up to $3.0 Million Private Placement Pursuant to the Listed Issuer Exemption
Vancouver, May 1, 2023 - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce a best efforts private placement (the "Offering") of up to 12,000,000 units (the "Units") of the Company at a price of $0.25 per Unit (the "Issue Price") for gross proceeds of up to $3,000,000 pursuant to the listed issuer financing exemption available under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"). There is an offering document relating to the Offering that can be accessed under the Company's profile at www.sedar.com and at www.silverhammermining.com. Prospective investors should read this offering document before making an investment decision.
Each Unit will consist of one common share of the Company (each a "Common Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant" and collectively the "Warrants"). Each Warrant will be exercisable at $0.33 for a period of 24 months following the Closing Date.
The Offering will be conducted by Echelon Wealth Partners Inc. ("Echelon") as lead agent and bookrunner, along with a syndicate of agents, (together with Echelon, the "Agents"), and is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange.
The Company has granted the Agents an option to arrange for the sale of up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date (the "Agents' Option"), subject to limitations prescribed by the LIFE exemption.
At the closing of the Offering, the Company shall pay to the Agents a cash commission equal to 8.0% of the aggregate gross proceeds of the Offering (including any exercise of the Agents' Option) and will issue to the Agents a number of non-transferable warrants of the Company (the "Broker Warrants") equal to 8.0% of the number of Units sold under the Offering (including any exercise of the Agents' Option), each Broker Warrant exercisable for a period of 24 months following the closing of the Offering to acquire a Common Share at an exercise price equal to the Issue Price, subject to adjustment in certain events.
The Company will use the net proceeds of the Offering for exploration at the Silver Strand project in Idaho, Eliza and Silverton projects in Nevada, working capital and general corporate purposes.
The Offering is expected to close on or about May 18, 2023, or such other date as the Company and the Agents may agree.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
On Behalf of the Board of Silver Hammer Mining Corp.
Peter A. Ball
President & CEO, Director
T: 778-344-4653
E: peter@silverhammermining.com
For investor relations inquiries, contact:
Kristina Pillon
High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the Offering and the use of proceeds therefrom. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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