/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Nov. 30, 2023 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that the Company intends to undertake a non-brokered private placement financing (the "Offering") pursuant to the Listed Issuer Financing Exemption (the "LIFE") of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") to raise gross proceeds of up to $5,000,000 from the sale of up to 45,454,546 units ("Units") at a price of $0.11 per Unit. Each Unit will consist of one common share of the Company (each, a "Share") and one warrant (each, a "Warrant"), each Warrant entitling the holder thereof to acquire one Share from the Company at a price of $0.20 per Share for a period of 24 months from its date of issue.
Silver Viper Minerals Corp. logo (CNW Group/Silver Viper Minerals Corp.)
The Company intends to use the minimum net proceeds of $2,000,000 from the Offering for working capital requirements and other general corporate purposes which includes legal and financing fees as part of this Offering, and the final US$200,000 option payment on its La Virginia Project due in 2024. Any additional net proceeds from the Offering will be used to continue surface exploration including mapping and sampling as well as a drill campaign at the La Virginia Project.
Subject to compliance with applicable regulatory requirements, the Offering is being made to purchasers' resident in Canada, except Quebec, pursuant to the LIFE under Part 5A of NI 45-106. The securities issued under the Offering will not be subject to a hold period in accordance with applicable Canadian securities laws.
There is an offering document related to the offering that can be accessed under the Company's profile at www.sedarplus.com and on the Company's website at www.silverviperminerals.com. Prospective investors should read this offering document before making an investment decision.
The Company may pay a finder's fee in respect of those purchasers under the Offering introduced to the Company by certain persons (each a "Finder"). Each Finder will receive a cash payment equal to 6% of the gross proceeds received by the Company from purchasers under the Offering who were introduced to the Company by such Finder.
The Offering is anticipated to close in a series of tranches, with the first tranche on or about December 20, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful,
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope President and CEO
Forward Looking Information
This news release may contain forward-looking statements, including statements with respect to the terms of the Offering, the receipt of regulatory approvals for the Offering, closing of the Offering and use of proceeds of the Offering. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements, management discussion and analysis and/or annual information form available on www.sedar.com. The risk factors identified in such documents are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law.
Neither 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.
