Silver North Resources Ltd. Engages Hybrid Financial and Provides Financing Update
Vancouver, Oct. 17, 2023 - Silver North Resources Ltd. (TSX-V:SNAG) (OTC:TARSF) ("Silver North" or the "Company") is pleased to announce that it has retained Hybrid Financial Ltd. ("Hybrid") to provide marketing services to the Company. The Company also announces that it plans to close the first tranche of its previously announced financing on Thursday, October 19, 2023. Jason Weber, President and CEO of Alianza noted that "The team at Hybrid is very active with exploration companies and we feel that they will be very complementary to our existing outreach channels. With the recent launch of Silver North, it is an optimal time to involve new groups to get our story out to the greater investing public."
Financing Update
Silver North is in the process of raising up to $1.5 million as outlined in the news release issued on August 29th, 2023 and now anticipates closing the first tranche on October 19th, 2023. This first tranche will consist of approximately $500,000 in hard dollars and $300,000 in flow through funds. The funds will be used for general working capital, marketing, and for exploration on the Company's high grade silver Haldane project in the Keno Hill area of Yukon Territory, Canada.
Silver North has also increased the commission on the financing to 7% in cash and 7% in finder's warrants. Each finder's warrant will allow the holder to acquire one share at the offering price of $0.20 for a period of three years.
Further details of the financing will be announced at closing. The financing is subject to regulatory approval.
Hybrid Financial Engagement
Hybrid has been engaged to heighten market and brand awareness for Silver North and to broaden the Company's reach within the professional investment community. Hybrid complies with all applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV") in providing the services and their area of outreach is investment professionals.
Hybrid has been engaged by the Company for an initial period of six months starting October 3, 2023 (the "Initial Term") and then shall be renewed automatically for successive six months periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term.
About Silver North Resources Ltd.
Silver North's primary assets are its 100% owned Haldane silver project and the Tim silver project (under option to Coeur Mining Inc.). Silver North also holds gold and base metal projects in Yukon Territory, Colorado and Nevada and is actively seeking partners for them. Silver North also holds certain royalties on projects in North and South America.
The Company is listed on the TSX Venture Exchange under the symbol "SNAG" and trades on the OTCQB market in the US under the symbol "TARSF".
About Hybrid Financial Ltd.
Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial's head office is located in Toronto, Ontario.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
Twitter: https://twitter.com/SilverNorthRes
LinkedIn: https://www.linkedin.com/company/silvernorth-res-ltd/
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.