Silicon Metals Corp. Closes Final Tranche of Its Strategic NFT and FT Unit Offerings for Aggregate Gross Proceeds of $200,000

Core Points - Silicon Metals Corp. has successfully closed the final tranche of its non-brokered private placements, raising a total of $200,000 [1] - The final tranche involved the issuance of 1,100,000 non-flow-through units at a price of $0.05 per unit, generating gross proceeds of $55,000 [2] - The proceeds from the sale will be utilized for general working capital purposes [3] Financial Details - Each non-flow-through unit consists of one common share and one half of a common share purchase warrant, with the whole warrant allowing the purchase of a common share at an exercise price of $0.06 for 24 months [2] - An accelerator provision is included in the terms of the warrants, allowing the company to accelerate the expiry date if the common shares close at $0.15 or higher for ten consecutive trading days [2] Company Overview - Silicon Metals Corp. is focused on exploration and development in Canada, particularly in British Columbia and Ontario [5] - The company holds a production permit for the Maple Birch Project, which has a capacity of 3,000 tonnes per year [5] - Additionally, the company has full rights to the Ptarmigan Silica Project and other exploration stage projects in British Columbia [5]