Silver Storm Advances Offtake Financing for
TORONTO--(BUSINESS WIRE)--Silver Storm Mining Ltd. (' Silver Storm ' or the " Company") (TSX.V: SVRS | OTC: SVRSF | FSE: SVR), is pleased to report the Company has made excellent progress towards securing debt and offtake-linked project financing proposals for the restart of operations at the past producing La Parrilla Silver Mine Complex (' La Parrilla '), in Durango, Mexico.
Silver Storm has received several non-binding proposals from leading trading houses for multi-year lead and zinc concentrate offtake agreements, as well as traditional debt providers. Each proposal includes an associated prepayment or structured finance facility to provide near-term funding for restart activities at La Parrilla.
The proposals received to-date include:
Financing facilities ranging from US$15 - US$17 million
Duration of 36 - 48 months
Annual interest rates based on SOFR 3-month rate 1 + acceptable customary premium
Note 1. Secured Overnight Financing Rate
All proposals are subject to customary conditions precedent, including satisfactory due diligence, compliance and documentation, commercial offtake contracts for 100% of production during the facility tenor, acceptable pledge guarantees, and credit committee approval. There can be no assurance that definitive agreements for the financing facilities will be entered into and completed on terms which are acceptable or at all.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: statements regarding the structure and terms of the prepayment or structured finance facilities, the ability of the Company to close a prepayment or structured finance facility based on the indicative terms including size of the financing facility, the tenor of financing facility and annual interest rate; the timing and ability of the Company to complete additional financing transactions; and the ability of the Company to restart operations at La Parrilla and the timing thereof.
In making the forward-looking statements included in this news release, the Company have applied several material assumptions, including that: definitive agreements for the prepayment or structured finance facilities will be entered into and will close on the anticipated terms; the Company´s financial condition and development plans do not change because of unforeseen events; management's ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.
Such forward-looking information represents managements and Qualified Persons (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
21 minutes ago
- Wall Street Journal
Australia Shares Set to Build on Record
2223 GMT – Australia's S&P/ASX 200 looks set to build on its record close when the local share market opens Wednesday. ASX futures are up by 0.3% ahead of the open, suggesting that the benchmark index will add to Tuesday's 0.8% rise. That carried the ASX to a record, surpassing the mark it set in mid-February before tariff-driven uncertainty roiled global markets. U.S. stocks provided a positive lead after signs of progress in trade talks between U.S. and Chinese officials in London. The S&P 500 rose 0.55%, the Dow Jones Industrial Average gained 0.25%, and the Nasdaq Composite put on 0.6%. (
Business Insider
33 minutes ago
- Business Insider
Read the memo: Google cracks down on RTO mandate and offers buyouts to some US-based employees
Google expanded its return-to-office mandate and offered voluntary buyouts for some US-based employees on Tuesday, according to an internal memo viewed by Business Insider. Employees on Google's Core, Marketing, Research, Knowledge & Information (K&I), and Communications teams all received the buyout offers. K&I includes teams working on Search, ads and commerce. The return-to-office requirement expands the company's 2022 RTO mandate, which asked some US-based teams to come into the office 3 days a week, while still offering " work from anywhere" weeks. The company will now require all remote employees on affected teams who live within 50 miles of an office to return to the office on a hybrid schedule. "Earlier this year, some of our teams introduced a voluntary exit program with severance for US-based Googlers, and several more are now offering the program to support our important work ahead," Courtenay Mencini, a Google spokesperson, told Business Insider in a statement. "A number of teams are also asking remote employees who live near an office to return to a hybrid work schedule in order to bring folks more together in-person." Business Insider could not immediately confirm how many Google employees would be affected by the buyout offer or expanded return-to-office mandate. In 2023, Google CEO Sundar Pichai announced the company was laying off around 12,000 staff, or 6% of its global workforce, in sweeping cuts across its product areas and regional teams. Google conducted additional rounds of layoffs in 2024, affecting its Treasury, Business Services, and Revenue Cash Operations teams. It's unknown if the latest buyout offers mean more layoffs are coming. Earlier this year Google offered buyouts for staff in its Pixel and Android unit. It had layoffs in that same division a few weeks later. Below is the full memo sent to Google employees on Tuesday by Jen Fitzpatrick, the Senior Vice President of Core Systems at Google. Hi everyone, As I mentioned at The Source last month, there's a ton of exciting and important work for us here in Core, especially as AI is reshaping everything - our products, our tools, the way we work, how we work, how we innovate and so on. To meet this transformational moment, we need everyone to show up with an unparalleled sense of energy and enthusiasm for Core's mission, connecting and collaborating at speed so that we can tackle all of the ambitious work we need to do. In support of these goals, we're introducing two programs today for US-based Core Googlers: We're offering a Voluntary Exit Program (VEP) for Core Googlers in the US (in my reporting org). We've seen positive feedback across the company in other orgs who have offered similar programs, and I wanted to extend the same option to eligible Core Googlers in the US who would like to leave the company voluntarily with severance. The Voluntary Exit Program may be a fit Core Googlers who aren't feeling excited about and aligned with Core's mission and goals, or those who are having difficulty meeting the demands of their role. Additionally, how we work today is more flexible than it's ever been with our 3/2 hybrid work policy. But when it comes to connection, collaboration, and moving quickly to innovate together, there's just no substitute for coming together in person. In Core, we believe that having more Googlers in the office collaborating and innovating together while building community and connection that supports our culture is an important part of our success as an org, and as a company. That's why we're updating our work location policy for local remote Core Googlers in the US and asking all US-based Core Googlers who are remote and live within 50 miles of an approved return site ("local remote") for Core to transfer back to a return site on a 3/2 hybrid schedule. We want to ensure Core Googlers are fully committed to being here and actively contributing. These programs will help us be even more focused on our mission and will enable us to operate with greater velocity, efficiency and collaboration. To be clear, this isn't about reducing the number of people in Core. We will use this opportunity to create internal mobility and fresh growth opportunities for Core Googlers. We'll follow up with VEP details for all eligible US Core Googlers, and location transfer information for US Remote Googlers meeting the criteria above shortly. We have a huge opportunity ahead of us - to deliver on our mission to make Google work better for everyone, and at scale - and to do so in a moment of transformational innovation. Let's stay focused, work hard, and build on the incredible momentum underway.
Business Wire
42 minutes ago
- Business Wire
HAYWARD HOLDINGS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Hayward Holdings, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ('KSF'), announces that KSF has commenced an investigation into Hayward Holdings, Inc. (NYSE: HAYW). On July 28, 2022, the Company disclosed disappointing second quarter 2022 results, including a significant inventory de-stocking as it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. As a result, the Company updated its full year 2022 outlook expecting net sales to decline between 2% and 6% year-over-year, compared to prior guidance expecting net sales growth between 9% and 12% year-over-year, and cut expected 2022 adjusted earnings from a range of $460 million to $475 million to a range of just $385 million to $400 million. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information, violating federal securities laws. Recently, the court presiding over the case denied the Company's motion to dismiss in part, allowing the case to continue. KSF's investigation is focusing on whether Hayward's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation, or have been a long-term holder of Hayward shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ( or visit to learn more. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. To learn more about KSF, you may visit
