SILICON METALS CORP. ANNOUNCES PRIVATE PLACEMENT OF UP TO $950,000 – Silicon Metals Corp
Silicon Metals Corp. (CSE:SI) plans to conduct a non-brokered private placement of up to 19,000,000 shares at $0.05 each, aiming for gross proceeds of $950,000. The shares will have a four-month hold period and are subject to Canadian Securities Exchange approval. Proceeds will be used to advance projects in British Columbia and for general working capital. Silicon Metals focuses on exploration in western Canada, holding rights to the Ptarmigan, Silica Ridge, Longworth, and Hedge Hog Silica Projects. The company warns that forward-looking statements regarding the offering and its use may involve risks and uncertainties.
—————————
Vancouver, British Columbia, SILICON METALS CORP. (CSE:SI) (“Silicon Metals” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) of up to 19,000,000 shares (the “Shares”) at a price of $0.05 per Share for aggregate gross proceeds of up to $950,000.
The Shares will be subject to a statutory hold period of four months and a day from the date of issuance. The Company may pay finder’s fees in connection with the Offering. The Offering remains subject to the approval of the Canadian Securities Exchange (“CSE”). The Company intends to use the net proceeds of the Offering for advancement of its projects in British Columbia and for general working capital.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration in western Canada, namely British Columbia. The Company holds an undivided 100% right, title and interest in the Ptarmigan Silica Project located approximately 130km from Prince George, British Columbia. The Company has also acquired an option to purchase an undivided 100% right, title, and interest in both the Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the Longworth Silica Project located approximately 85km East from Prince George, British Columbia. Also, the Company currently has an Option to explore the Hedge Hog Project located 15km north of the town of Wells in the Caribou Mining Division of central British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
“Morgan Good”
Morgan Good
Chief Executive Officer and Director
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@siliconmetalscorp.com OR ir@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE 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).
Cautionary Note Regarding Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the terms of the Offering, the anticipated closing date of the Offering and the anticipated use of proceeds of the Offering. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will complete the Offering in the anticipated timeframe and use the proceeds of the Offering as currently anticipated.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the required regulatory approvals or approval from the CSE in connection with the Offering, that the Offering will not close on the anticipated date and that the Company will not use the proceeds of the Offering as currently anticipated.
