Silver One Closes Oversubscribed Financing of $6.04 Million

Core Points - Silver One Resources Inc. has successfully closed an oversubscribed non-brokered private placement financing, issuing 21,587,713 units at a price of $0.28 per unit, resulting in gross proceeds of $6,044,559.64 [1][2] Financing Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional common share at $0.40 for three years [2] - The company paid a total cash commission of $39,768 and issued 142,029 finder's warrants to registered finders, along with additional commissions and warrants to Southpoint Capital Sagl and Golden Capital Consulting [3] Use of Proceeds - Proceeds from the offering will be allocated for exploration and drilling costs on the company's mineral properties, as well as for general working capital purposes [4] Company Overview - Silver One is focused on the exploration and development of quality silver projects, holding a 100% interest in the Candelaria Mine in Nevada, which presents opportunities for near-term production [6] - The company has staked 636 lode claims and entered into a Lease/Purchase Agreement for five patented claims on its Cherokee project, which hosts multiple silver-copper-gold vein systems [7] - Silver One also owns a 100% interest in the Silver Phoenix Project, a high-grade native silver prospect located in the Arizona Silver Belt [8]