Latest news with #LaParrilla
Associated Press
29-05-2025
- Business
- Associated Press
Silver Storm Announces Upsize of Brokered Private Placement for Gross Proceeds of up to C$8.0 Million
TORONTO--(BUSINESS WIRE)--May 29, 2025-- Silver Storm Mining Ltd. (' Silver Storm ' or the " Company ") (TSX.V: SVRS | FSE: SVR), is pleased to announce that as a result of strong investor demand, the Company and Red Cloud Securities Inc. as lead agent and bookrunner and Ventum Financial Corp, as co-agent (collectively, the ' Agents '), have agreed to increase the size of the previously announced best-efforts private placement (the ' Marketed Offering ') from gross proceeds of up to C$6,006,000 to gross proceeds of up to C$8,008,000. The upsized Marketed Offering is comprised of the sale of up to 61,600,000 units of the Company (each, a ' Unit ') at a price of $0.13 per Unit (the ' Offering Price '). Each Unit will consist of one common share of the Company (each, a ' Unit Share ') and one common share purchase warrant (each a ' Warrant '). Each Warrant shall entitle the holder to purchase one common share (each, a ' Warrant Share ') at a price of C$0.20 at any time on or before that date which is thirty-six (36) months after the Closing Date (as hereinafter defined). The Company has granted to the Agents an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to sell up to an additional 15,400,000 Units at the Offering Price to raise up to an additional C$2,002,000 in gross proceeds (the ' Agent's Option ', and together with the Marketed Offering, the ' Offering '). The Company intends to use the net proceeds from the Offering to commence rehabilitation work of the La Parrilla processing facility, order long lead items required to restart La Parrilla, fund ongoing operations for the next twelve months, and for general corporate and working capital purposes, all as further detailed in the Offering Document. Subject to compliance with applicable regulatory requirements and in accordance with Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the Coordinated Blanker Order 45-935 – Exemptions From Certain Conditions of the Listed Issuer Financing Exemption (the ' Listed Issuer Financing Exemption '), the Units will be offered for sale to purchasers resident in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. The Unit Shares and Warrant Shares underlying the Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers' resident in Canada. The Units sold under the Offering may also be issued to purchasers outside of Canada, including to purchaser's resident in the United States and in certain offshore foreign jurisdictions, pursuant to applicable regulatory requirements and in accordance with OSC Rule 72-503 - Distributions Outside Canada (' OSC Rule 72-503 '). The Units sold to purchasers in the United States will be made on a private placement basis pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended (the ' U.S. Securities Act '). Purchasers are advised to consult their own legal advisors in this regard. There is an amended and restated offering document relating to the Offering (the " Amended and RestatedOffering Document ") that can be accessed under the Company's profile at and on the Company's website at Prospective investors in the Offering should read the Amended and Restated Offering Document before making an investment decision. The Offering is scheduled to close on or about June 5, 2025 (the ' Closing Date '), or such other date as the Company and the Agent may agree. Completion of the Offering 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 ' TSXV '). The Agents shall receive a cash commission equal to 6.0% of the gross proceeds of the Offering and broker warrants (each, a ' Broker Warrant ') equal to 6.0% of the number of Units sold pursuant to the Offering, other than from proceeds received from sales to certain President's List purchasers identified by the Company, for which a 2.0% cash commission and 2.0% Broker Warrants will be payable. Each Broker Warrant is exercisable into one common share of the Company at the Offering Price for a period of thirty-six (36) months following the completion of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Silver Storm Mining Ltd. Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In 2023 Silver Storm acquired of 100% of the La Parrilla Silver Mine Complex, a prolific past producing operation 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 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 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, the Company completing the Offering as planned and on the terms presented, the intended use of proceeds of the Offering, the closing conditions of the Offering, TSXV approval of the Offering, the anticipated closing date of the Offering, the Company's plans and expectations for La Parrilla, and the ability to eventually place the La Parrilla Complex back into production. In making the forward-looking statements included in this news release, the Company have applied several material assumptions, including that the Offering will close on the anticipated terms or at all or may not close on the terms and conditions currently anticipated by the Company; that the Units will have the anticipated terms; that the Company will use the net proceeds of the Offering as anticipated; that the Company will receive all necessary approvals in respect of the Offering; the Company´s financial condition and development plans do not change because of unforeseen events, and management's ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla, the decision to potentially place La Parrilla into production, other production related decisions or to otherwise carry out mining and processing operations, being largely based on internal non-public Company data and reports from previous operations and not based on NI 43-101 compliant reserve estimates, preliminary economic assessments, pre-feasibility or feasibility studies, resulting in higher risks than would be the case if a feasibility study were completed and relied upon to make a production decision. 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 source version on CONTACT: For additional information, please contact: Greg McKenzie, President & CEO Ph: +1 (416) 504-2024 [email protected] KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER NATURAL RESOURCES MINING/MINERALS OTHER PROFESSIONAL SERVICES FINANCE NATURAL RESOURCES SOURCE: Silver Storm Mining Ltd. Copyright Business Wire 2025. PUB: 05/29/2025 07:15 AM/DISC: 05/29/2025 07:16 AM
Yahoo
09-05-2025
- Business
- Yahoo
Silver Storm secures financing proposals for La Parrilla mine's restart in Mexico
Silver Storm Mining, a Canadian exploration and resource company, has secured multiple non-binding debt and offtake-linked project financing proposals from trading companies to resume operations at the previously operating La Parrilla silver mine in Durango, Mexico. The financing facilities offered range from C$15m to C$17m, with durations between 36 and 48 months. They feature annual interest rates based on the SOFR three-month rate plus a customary premium. The funding is intended to facilitate near-term activities necessary for the mine's restart, with each proposal also including an associated prepayment or structured finance facility. However, these proposals are contingent upon several conditions including satisfactory due diligence, compliance, documentation, securing commercial offtake contracts for 100% of production during the facility tenor, acceptable pledge guarantees and credit committee approval. There is no certainty that definitive agreements will be reached or completed on acceptable terms, if at all. In March 2025, Silver Storm announced a significant increase in La Parrilla's mineral resources. The indicated mineral resources saw a 107% increase from 5.2 million ounces (moz) of silver equivalent ( to 10.8moz The inferred mineral resources grew by 58% from 10.3moz to 16.3moz The majority of these resources are sulphide mineralisation, with silver contributing to the bulk of the resource's gross metal value. Furthermore, 23 additional mineralised structures have been modelled, some of which were previously mined by the former operator, suggesting considerable potential for further resource expansion. Silver Storm acquired the La Parrilla silver mine complex in August 2023. It comprises a 2,000 tonnes per day capacity mill, five underground mines and an open pit that produced 34.3moz between 2005 and 2019, collectively. "Silver Storm secures financing proposals for La Parrilla mine's restart in Mexico" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
08-05-2025
- Business
- National Post
Silver Storm Advances Offtake Financing for Restart of La Parrilla Silver Mine Complex
Article content TORONTO — 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. Article content Article content 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. Article content The proposals received to-date include: Article content Duration of 36 – 48 months Article content 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. Article content About Silver Storm Mining Ltd. Article content 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 Article content Cautionary Note Regarding Forward Looking Statements: Article content 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. Article content 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. Article content Article content Article content Article content Article content Article content
