Core Silver Announces Closing of Non-Brokered Private Placement

Rhea-AI Summary

Core Silver Corp. (OTCQB:CCOOF) has successfully completed its non-brokered private placement offering, raising total gross proceeds of $1,282,000. The offering consisted of 5,410,000 non-flow-through units at $0.20 per unit and 800,000 flow-through units at $0.25 per unit.

Each unit includes one common share and one warrant, with warrants exercisable at $0.30 per share for three years. Notable insider participation included CEO Nicholas Rodway, VP Joshua Vann, and major shareholder Crescat Portfolio Management LLC, collectively subscribing for $404,500. The securities are subject to both a statutory four-month and contractual one-year hold period.

The flow-through funds will be used for Canadian exploration expenses at the company's Blue Property in British Columbia, while non-flow-through proceeds will support general working capital.

Positive

• Raised significant capital of $1,282,000 through private placement
• Strong insider participation with $404,500 investment shows management confidence
• Flow-through structure provides tax benefits for Canadian investors
• Three-year warrant coverage at $0.30 provides potential future upside

Negative

• Dilutive effect from issuing 6,210,000 new units
• Extended one-year contractual lock-up period may limit trading liquidity
• Warrant exercise could lead to additional future dilution

VANCOUVER, BC / ACCESS Newswire / July 2, 2025 / Core Silver Corp., ("Core Silver" or the "Company") (CSE:CC)(FSE:5RJ)(OTCQB:CCOOF) is pleased to announce that it has completed its previously announced non-brokered private placement offering (the "Offering") pursuant to which the Company issued an aggregate of 5,410,000 non-flow-through units (the "Units") at a price of $0.20 per Unit and 800,000 flow-through units (the "FT Units") at a price of $0.25 per FT Unit for total gross proceeds of $1,282,000.

Each Unit is comprised of one common share of the Company (each, a "Share") and one share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional Share in the capital of the Company at a price of $0.30 per Share for a period of three (3) years from the date of issuance. Each FT Unit is comprised of one flow-through common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one Warrant. Each Warrant shall entitle the holder to acquire one Share at a price of $0.30 per Share for a period of three (3) years from the date of issuance.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance as required under applicable securities laws. In addition, the subscribers to the Offering entered into an agreement with the Company whereby the Shares, FT Shares and any Shares issuable upon exercise of the Warrants will be subject to a contractual hold period of one (1) year from the date of issuance.

The gross proceeds from the issuance of the FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's Blue Property located in British Columbia, Canada on or before May 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers on or before February 28, 2028. The gross proceeds from the issuance of the Units will be used for general working capital purposes.

Certain insiders of the Company participated in the Offering and subscribed for an aggregate 490,000 FT Units and 1,410,000 Units for total gross proceeds of $404,500. Nicholas Rodway, the Chief Executive Officer and a director of the Company, acquired 250,000 FT Units, Joshua Vann, the VP of Business Development and Strategy and a director of the Company, acquired 240,000 FT Units, and Crescat Portfolio Management LLC, an over 10% shareholder of the Company, acquired 1,410,000 Units, each of which constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to the insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the Company's market capitalization

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Core Silver Corp.
Core Silver Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% ownership in the Blue Property, which covers a land area of 114,074 hectares (~1,140 km²). The Blue Property lies within the Atlin Mining District, a well-known gold mining camp located in the unceded territory of the Taku River Tlingit First Nation and the Carcross/Tagish First Nation. The Blue Property hosts a major structural feature known as The Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the Blue Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Silver believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980's. The LFZ plays an important role in mineralization of near surface metal occurrences across the Blue Property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC's Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a major discovery. Core Silver is excited to become one of the Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development in the area.

On Behalf of the Board of Directors
CORE SILVER CORP.

"Nicholas Rodway"
President & CEO
Tel: 604.681.1568

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS
Statements in this news release which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this news release include statements regarding the Offering, including the use of proceeds of the Offering, the expectation that the Company will incur "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" and that the Company will renounce all Qualifying Expenditures. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that the Company may be unable to incur the Qualifying Expenditures; that the Company's exploration model may fail to facilitate any commercial discovery of minerals at the Blue Property; that the Company may not become one of Atlin Mining District's premier explorers or that the area may be found to lack opportunities for new discoveries and development, as anticipated; that further permits may not be granted in a timely manner, or at all; that the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; that certain exploration methods, including the Company's proposed exploration model for the Blue Property, may be ineffective or inadequate in the circumstances; that economic, competitive, governmental, geopolitical, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out or complete our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under the Company's SEDAR+ profile at www.sedarplus.ca. Except as required by law, the Company will not update or revise these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

SOURCE: Core Silver Corp.

View the original press release on ACCESS Newswire

FAQ

How much did Core Silver (CCOOF) raise in its July 2025 private placement?

Core Silver raised total gross proceeds of $1,282,000 through the issuance of 5,410,000 non-flow-through units at $0.20 and 800,000 flow-through units at $0.25.

What was the insider participation in Core Silver's private placement?

Insiders invested $404,500, with CEO Nicholas Rodway acquiring 250,000 FT Units, VP Joshua Vann acquiring 240,000 FT Units, and Crescat Portfolio Management LLC acquiring 1,410,000 Units.

What are the terms of the warrants issued in Core Silver's offering?

Each warrant entitles holders to acquire one additional share at $0.30 per share for a period of three years from the date of issuance.

How will Core Silver use the proceeds from the private placement?

The flow-through proceeds will fund Canadian exploration expenses at the Blue Property in British Columbia, while non-flow-through proceeds will be used for general working capital.

What are the hold period restrictions for Core Silver's private placement securities?

The securities have both a statutory hold period of four months and one day and a contractual hold period of one year from the date of issuance.