Latest news with #SilverStorm
National Post
4 days ago
- Business
- National Post
Silver Storm Closes First Tranche of Brokered Life Financing for Gross Proceeds of $10,541,050, Including Investment by Eric Sprott
Article content TORONTO — Silver Storm Mining Ltd. (' Silver Storm ' or the ' Company ') (TSX.V: SVRS | FSE: SVR), is pleased to announce that it has closed the first tranche (the ' First Tranche ') of its previously announced best efforts brokered private placement for total gross proceeds of $10,541,050 (the ' Offering '), which includes the partial exercise of the agents' option. Under the Offering, the Company sold 81,085,000 units of the Company (each, a ' Unit ') at a price of $0.13 per Unit (the ' Offering Price '). Red Cloud Securities Inc. is acting as lead agent and bookrunner for the Offering and Ventum Financial Corp. is acting as co-agent (collectively, the ' Agents '). The Offering was originally announced on June 20, 2025, and subsequently updated on June 29, 2025, and June 30, 2025. Article content The First Tranche included a $1,001,000 investment from current significant shareholder by Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him. Article content Each Unit consists of one common share of the Company (each, a ' Unit Share ') and one common share purchase warrant (each a ' Warrant '). Each Warrant entitles the holder to purchase one common share (each, a ' Warrant Share ') at a price of $0.20 at any time on or before that date which is thirty-six (36) months from the date of issuance. Article content The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (' NI 45-106 ') 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 Unit Shares and Warrant Shares underlying the Units are not subject to any hold period under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units sold under the Offering to offshore and purchasers in the United States were sold 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 '). Article content The Company intends to use the net proceeds from the Offering for: (i) the procurement of mine processing flotation cells; (ii) to commence rehabilitation work of the La Parrilla processing facility including equipment purchase and refurbishment, labour and supplies; (iii) to order long lead items including deposits on mining equipment and ventilation fans; (iv) to fund ongoing operations for the next twelve months; and (v) for general corporate and working capital purposes, all as further detailed in the Amended and Restated Offering Document (as hereinafter defined). Article content There is an amended and restated offering document relating to the Offering dated May 30, 2025 (the ' Amended and Restated Offering 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. Article content As consideration for their services in the First Tranche of the Offering, the Agents and Harbourfront Wealth Management LLC received an aggregate cash payment of $540,735 and 4,159,500 non-transferable common share purchase warrants (the ' Broker Warrants '). Each Broker Warrant is exercisable into one common share of the Company at the Offering Price for a period of thirty-six (36) months from the date of issuance. Article content The Offering remains subject to the final approval of the TSX Venture Exchange (the ' TSXV '). The remaining Offering amount of up to $1,470,950 from the sale of up to 11,315,000 Units at the Offering Price has been allocated to subscribers and the Company is expecting to close the final tranche of the Offering within the coming days. Article content Eric Sprott through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, and which holds greater than 10% of the Company's common shares, subscribed for 7,700,000 Units in the First Tranche of the Offering for an aggregate purchase price of $1,001,000 (the ' Insider Participation '). The Insider Participation will be considered a 'related party transaction' within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The Company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the Insider Participation does not exceed 25% of the fair market value of the Company's market capitalization. The Company did not file a material change report in respect of the Insider Participation at least 21 days before expected closing date of the Offering as the Insider Participation was not confirmed prior to the foregoing period. Article content 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. Article content About Silver Storm Mining Ltd. Article content 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 Article content 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. 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 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 intended use of proceeds of the Offering, the closing conditions of the Offering, statements with respect to the closing of the second tranche of the offering, including the timing and terms thereof, final TSXV approval of the Offering, statements with respect to the Insider Participation, including reliance on the MI 61-101 exemptions, the Company's plans and expectations for La Parrilla, and the ability to eventually place the La Parrilla Complex back into production. Article content 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 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 herein. Article content Article content Article content Article content Article content Contacts Article content For additional information, please contact: Article content Article content Article content
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
Associated Press
08-05-2025
- Business
- Associated Press
Silver Storm Advances Offtake Financing for Restart of La Parrilla Silver Mine Complex
TORONTO--(BUSINESS WIRE)--May 8, 2025-- 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: 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 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 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: MINING/MINERALS NATURAL RESOURCES SOURCE: Silver Storm Mining Ltd. Copyright Business Wire 2025. PUB: 05/08/2025 07:15 AM/DISC: 05/08/2025 07:14 AM
Business Wire
08-05-2025
- Business
- Business Wire
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 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.
