Silicon Metals Corp. Announces Amendment to Previously Announced Private Placement of up to $800,000

Core Viewpoint - Silicon Metals Corp. has amended the terms of its previously announced private placement, aiming to raise up to $800,000 through the issuance of non-flow-through units priced at $0.05 each [1][2]. Group 1: Offering Details - The Company plans to issue up to 16,000,000 non-flow-through units, each consisting of one common share and one half of a common non-flow-through share purchase warrant [2]. - Each whole non-flow-through warrant will allow the holder to purchase a common share at an exercise price of $0.055 for a period of 24 months [2]. - An accelerator provision is included, allowing the Company to accelerate the expiry date of the warrants if the common shares close at $0.15 or higher for ten consecutive trading days [2]. Group 2: Use of Proceeds - The proceeds from the Offering will be used for the advancement and development of the Company's properties and for general working capital purposes [3]. Group 3: Company Overview - Silicon Metals Corp. is focused on exploration in western Canada, particularly in British Columbia, holding a 100% interest in the Ptarmigan Silica Project and options for additional silica projects [5].