Latest news with #PlomosasProject
Cision Canada
2 days ago
- Business
- Cision Canada
GR Silver Closes Bought Deal Offering with Full Exercise of Over-Allotment Option for Gross Proceeds of $13.8 Million
VANCOUVER, BC, Aug. 13, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (FRANKFURT: GPE) is pleased to announce that it has completed its previously announced (see news release dated July 28, 2025) underwritten private placement offering (the " Offering") issuing 69,000,000 units of the Company (the " Units") at a price of $0.20 per Unit (the " Issue Price"), for aggregate gross proceeds of $13,800,000, including 9,000,000 Units ($1,800,000) sold pursuant to the full exercise of the over-allotment option granted to Research Capital Corporation (the " Underwriter"), the sole underwriter and sole bookrunner, pursuant to the Underwriting Agreement (defined below). Each Unit was comprised of one common share of the Company (a " Common Share") and one-half of one Common Share purchase warrant of the Company (each whole warrant, a " Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.28 per Common Share at any time until August 13, 2028. The Company intends to use the net proceeds from the Offering for advancement of its Plomosas Silver Project in Mexico, working capital and general corporate purposes. "With the closing of this financing and the full exercise of the over-allotment option, the Company has strengthened its liquidity position," said Marcio Fonseca, President & CEO. "This capital gives us the ability to unlock the value of our Plomosas Project, by advancing the step-out resource expansion drilling program at the San Marcial Area focused on high-grade silver mineralization, and continuing the Bulk Sampling Test Mining ("BSTM") activities at the historic Plomosas Underground Mine. Both activities at the Plomosas Project aim to deliver long-term value for all shareholders , with potential resource expansion and advancing more detailed studies at the past producer underground mine. We thank our investors for their continued confidence and support." The Units were issued pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions, to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The Offering remains subject to the final approval of the TSX Venture Exchange. The Company entered into an underwriting agreement (the " Underwriting Agreement") dated August 13, 2025, with the Underwriter, pursuant to which the Company (i) paid the Underwriter a cash commission of $828,000, and (ii) issued an aggregate of 4,140,000 non-transferable broker warrants (the " Broker Warrants"). Each Broker Warrant entitles the holder to purchase one Unit at an exercise price equal to the Offering Price at any time until August 13, 2028. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and such securities may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with the requirements of an exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. About GR Silver Mining Ltd. GR Silver Mining is a Canadian-based, Mexico-focused mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km² of highly prospective, advanced-stage exploration concessions position the Company well for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Márcio Fonseca, President & CEO CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the use of proceeds of the Offering and the timely receipt of all necessary approvals, including final approval of the TSX Venture Exchange. Such forward ‑ looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward ‑ looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law. 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 GR Silver Mining Ltd.
Cision Canada
30-06-2025
- Business
- Cision Canada
GR Silver Mining Strengthens Management Structure and Provides Corporate Update
VANCOUVER, BC, June 30, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is very pleased to announce the strengthening of its management structure by recognizing the contribution of the Company's team in recent successes, including discovering new silver mineralization, resource growth, improved financial condition, and positioning the Company for renewed growth. Effective immediately, making use of experienced in-house mining executives, GR Silver Mining is implementing a management restructure supporting plans to advance the Plomosas Silver Project in Sinaloa, Mexico. Advancement of the Plomosas Project is based on the upside resource potential at the San Marcial Area and the recognition of synergies and opportunities available at the permitted historical Plomosas Mine Site. In Vancouver, Founder, President and Chief Operating Officer (COO) Márcio Fonseca will assume the role of President and Chief Executive Officer. Eric Zaunscherb will assume the role of Executive Chair of the Board of Directors. Mr. Fonseca has been highly successful in his mandate as COO, delivering a resource update for the Plomosas Project on time and exceeding published expectations in March 2023 (see news release dated March 20, 2023). Over the last few years, the geological team headed by Mr. Fonseca has fine-tuned the geological model at San Marcial leading to the SE Area discovery with a highlight intersection in Hole SMS22-10 of 101.6 m averaging 308 g/t Ag. More recently, three new proximal target areas have been identified for follow up drilling featuring similar geological, geochemical and geophysical signatures to San Marcial. Mr. Fonseca has also been fundamental in the Company's initiatives to improve its financial condition through corporate improvements in 2024. Mr. Zaunscherb assumed the role of CEO in February 2022 to allow Mr. Fonseca to focus on delivering continued resource expansion on the wholly owned, highly prospective Plomosas Project and to support operations and business enhancement in Mexico. In late 2023, GR Silver Mining management commenced initiatives to improve its financial condition and to position the Company for renewed growth. Positive corporate improvements through 2024 placed GR Silver Mining on track for a return to active exploration in 2025. Our corporate successes included the sale of a non-core asset, elimination of the Company's working capital deficit, compensation from a third party for a historical environmental impasse, a significant uplift in the Company's share price, and strengthened leadership through the recruitment of new directors. Effective June 25, Alejandro Cano Cabello has been promoted from General Manager to Vice President of Operations, Mexico. With over two decades of experience in the Mexican mining sector, Mr. Cano is a mining and metallurgical engineer who has held senior roles at Fortuna Mining's San Jose Mine, First Majestic's Del Toro Silver Mine, and Americas Gold and Silver's Cosala Operations, among many other successful silver operations in Mexico. He brings a wealth of experience to support GR Silver Mining's growth in Mexico. He is highly regarded in the Mexican mining industry, being a member of the Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México. His role on the National Executive Board of the Colegio de Ingenieros de Minas, Metalurgistas y Geólogos de México, A.C. ( reflects his extensive development and operational experience as well as essential regulatory contacts throughout the country. Luis Coto has been promoted from Exploration Manager to Vice President, Exploration. He played a key role in discovering the wide, high-grade silver-mineralized breccia at San Marcial, contributing significantly to the Company's resource growth. Mr. Coto has gained extensive exposure to various geological settings and mineralized silver-gold epithermal systems, gold-copper porphyries, and skarn deposits. His expertise spans district-scale exploration studies, as well as design, management, and execution of multi-million-dollar drilling programs supporting resource expansion. In Mexico, he participated in the discovery of Fortuna Mining's San Jose Mine, and in Peru, he led the team that defined the world-class Mina Justa copper-gold deposit for Minsur. Gerardo Cicilia Calnacasco has been promoted to Controller, Mexico. He is an accountant with a Master's Degree in Finance and has over two decades of financial experience in the industrial sector in Mexico. After 14 years working in the manufacturing-oil sector, he transitioned to the mining industry where he has spent the last 14 years working in a range of accounting and financial roles at multiple mine operations in Mexico. His senior accounting and financial roles at Endeavour Silver's Guanacevi Mine, First Majestic's San Dimas Mine, and Nyrstar Mining's Campo Morado Mine have created a strong knowledge of cost accounting and budgeting. His leadership over the past two years at GR Silver Mining has been greatly appreciated. Eric Zaunscherb commented, "I am excited to see GR Silver Mining repositioned and ready to advance its 2025 strategic initiatives to deliver value on behalf of its shareholders. I am confident that Márcio will continue to uncover the extraordinary potential of the Plomosas Silver Project, and I look forward to supporting him in this goal in my new role, assisting in communicating the Company's exciting investment proposition and attracting the resources he and his team need to execute the business plan." Márcio Fonseca added, "The success GR Silver Mining has achieved to date in consolidating a district-scale silver asset, discovering wide high-grade silver mineralization, and positioning the Company for continued resource growth and potential development in Mexico is the result of a strong team effort and shared commitment to our vision. I would like to thank all employees who have contributed to this journey so far. I am excited about the strengthening of our team, the ongoing drilling program at San Marcial, and the potential new developments at the Plomosas Mine. All these activities are advancing the Company toward responsible and sustainable growth." GR Silver Mining is continuing its drill program in the San Marcial Area, recently expanded to up to 3,000 meters, with three drill rigs currently active on site. The program is focused on three target areas located near the existing NI 43-101 resource estimate as noted in the March 2023 news release. This step-out drilling campaign includes a combination of shallow and deep drill holes, designed to define new near-surface mineralized zones and test down-plunge extensions of previously successful underground drilling, such as the intersections of 18 m averaging 773 g/t Ag including 5.6 m averaging 1,792 g/t Ag (Hole SMI21-03) and 38 m averaging 299 g/t Ag including 3.5 m averaging 1,002 g/t Ag (Hole SMI21-04). Management continues third-party discussions to advance the commencement of a Bulk Sampling Test Mining program at the permitted, past-producing Plomosas Mine. This initiative will consider both existing and potential new infrastructure, while also evaluating strategic opportunities to achieve critical mass in the Mexican silver mining industry. A similar concept was successfully implemented by the Company at the historic San Juan Mine. The program yielded valuable incremental knowledge related to high-grade modeling and targeting, grade reconciliation, and mineral deposit modeling to define new drill targets. From January to September 2024, 20,620 t of material were mined and 20,430 t milled by private local operators. A total of 420 t (dry) of lead concentrate were sold, averaging 10.43% Pb, 8,357 g/t Ag, and 8.19 g/t Au. Pursuant to the Company's Omnibus Equity Incentive Plan, the Company has granted incentive stock options to purchase up to 750,000 common shares (the " Options") to officers of the Company on joining senior management. The Options will vest on the date of grant. The Options are exercisable at $0.175 per share for a period of five years from the date of grant and are subject to the policies of the TSX Venture Exchange. About GR Silver Mining Ltd. GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km 2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Márcio Fonseca, President & CEO Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 press release.
Cision Canada
28-05-2025
- Business
- Cision Canada
GR Silver Mining Completes $1,844,700 Private Placement Financing
VANCOUVER, BC, May 28, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) –announces that it has closed its non-brokered private placement previously announced on May 8, 2025, and increased on May 14, 2025. Under the Offering, the Company has issued 14,190,000 units for gross proceeds of $1,844,700. In connection with the Offering, the Company paid a total of $104,442 and issued a total of 803,400 warrants as finder's fees. Each finder's warrant is exercisable for one common share at a price of $0.19 for two years. All securities issued under the Offering are subject to a hold period expiring September 28, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (" TSXV"). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. About GR Silver Mining Ltd. GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km 2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Eric Zaunscherb, Chair & CEO Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 press release. SOURCE GR Silver Mining Ltd.
Cision Canada
14-05-2025
- Business
- Cision Canada
GR Silver Mining Increases Private Placement Financing to up to $1.85 Million
VANCOUVER, BC, May 14, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that further to its news release of May 8, 2025, due to increased demand, it is increasing its non-brokered private placement such that it now proposes to sell up to 14,230,770 units at a price of $0.13 per unit for gross proceeds of up to $1.85 million. All other terms of the offering remain as set out in the Company's May 8, 2025 news release. The offering remains subject to compliance with applicable securities laws and policies of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. About GR Silver Mining Ltd. GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km 2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Eric Zaunscherb, Chair & CEO Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 press release. SOURCE GR Silver Mining Ltd.
Cision Canada
08-05-2025
- Business
- Cision Canada
GR Silver Mining Announces up to $1.56 Million Private Placement Financing
VANCOUVER, BC, May 8, 2025 /CNW/ - GR Silver Mining Ltd. (" GR Silver Mining" or the " Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – announces that it proposes to undertake a non-brokered private placement of up to 12 million units (each, a " Unit"), at a purchase price of $0.13 per Unit, to raise total gross proceeds of up to $1.56 million (the " Offering"). Each Unit will consist of one common share of the Company and one-half common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the Company at a price of $0.19 at any time on or before that date which is 24 months after the closing date of the Offering. The gross proceeds received from the sale of the Units will be used for exploration targeting resource expansion in the San Marcial Area of the Plomosas Project and for general working capital. The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The Company will pay finders' fees to eligible finders in connection with the Offering, subject to compliance with applicable securities laws and the policies of the TSXV. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. About GR Silver Mining Ltd. GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the Plomosas Project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km 2 of highly prospective advanced stage exploration concessions, position the Company well in the pursuit for resource expansion at the Plomosas Project. GR Silver Mining Ltd. Eric Zaunscherb, Chair & CEO Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. 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 press release. SOURCE GR Silver Mining Ltd.
