Tier One Silver Announces $1.5 Million Private Placement Financing

Rhea-AI Summary

Tier One Silver announces a private placement offering of up to 15,000,000 units at C$0.10 per unit to raise gross proceeds of up to C$1.5 million. Each unit includes one common share and one warrant exercisable at C$0.20 within 24 months of closing. The warrants have an accelerated expiry clause if shares trade at or above C$0.30 for 10 consecutive days. Proceeds will fund exploration at the Curibaya project and working capital. The offering is expected to close around December 12, 2024, subject to TSXV approval. Securities will have a four-month hold period.

Positive

• Raising C$1.5 million in new capital
• Funds allocated for exploration of flagship Curibaya project

Negative

• Potential shareholder dilution through 15 million new units
• Offering price of C$0.10 per unit may indicate low valuation
• Additional dilution possible through warrant exercise at C$0.20

This news release is not for distribution to U.S. newswire services for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / November 20, 2024 / Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to announce that it is undertaking a private placement of up to 15,000,000 units of the Company (each, a "Unit") at an offering price of C$0.10 per Unit (the "Unit Price") for gross proceeds of up to C$1,500,000 (the "Offering"). Each offered Unit consists of one common share (a "Share") and one full common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of C$0.20 at any time on or before the date which is 24 months from the closing date of the Offering (the "Closing Date").

The Warrants are subject to an accelerated expiry if, anytime following the date that is four months after the Closing Date, the closing price of the Shares on the TSX Venture Exchange ("TSXV"), or such other market as the Shares may trade from time to time, is or exceeds C$0.30 for any ten (10) consecutive trading days, in which event the holders of the Warrant may, at the Company's election, be given notice and the Company will issue a press release announcing that the Warrants will expire 30 days following the date of such press release. The Warrants may be exercised by the holder of the Warrant during the 30-day period between the date of the press release announcing the accelerated expiry date and the expiration of the Warrants.

The proposed use of proceeds from the Offering is to fund further exploration work at its flagship, Curibaya project and general working capital.

In accordance with applicable securities laws, the securities issued under the Offering will be subject to a four-month and one day hold period from the date of issuance in Canada.

Closing of the Offering is anticipated to occur on or about December 12, 2024, subject to the receipt of investor documentation, funds and TSXV approval.

The Company will pay finder's fees in cash and non-transferable broker warrants in compliance with the policies of the TSXV. In addition, the Company has appointed 3L Capital Inc. as Financial Advisor to the Offering.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press 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 State in which such an offer, solicitation or sale would be unlawful.

About Tier One Silver

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and copper deposits in Peru. The Company is focused on its flagship exploration project, Curibaya. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success.

ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.

Peter Dembicki President, CEO and Director

For further information on Tier One Silver Inc., please contact the Company at (778) 729-0700 or visit the Company's website: www.tieronesilver.com

Capital Markets Contact:

Julia Becker
Julia.becker@tieronesilver.com

Forward Looking Information and General Cautionary Language

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events in connection with the Offering. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release. In particular, and without limitation, this news release contains forward-looking statements in regard to the size, closing, TSXV approval and use of proceeds of the Offering.

Readers should refer to the risks discussed in the Company's Annual Information Form and Management's Discussion & Analysis for the year ended December 31, 2023, and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca.

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.

SOURCE: Tier One Silver, Inc.

View the original press release on accesswire.com

FAQ

What is the size of Tier One Silver's private placement announced in November 2024?

Tier One Silver (TSLVF) announced a private placement of up to 15,000,000 units at C$0.10 per unit to raise gross proceeds of up to C$1.5 million.

What are the warrant terms in Tier One Silver's November 2024 private placement?

Each warrant allows purchase of one common share at C$0.20 within 24 months, with accelerated expiry if shares trade at or above C$0.30 for 10 consecutive days.

How will Tier One Silver (TSLVF) use the proceeds from the 2024 private placement?

The proceeds will be used to fund exploration work at the Curibaya project and for general working capital purposes.