Silver One Announces Closing of Final Tranche of $32 Million Financing

Core Viewpoint - Silver One Resources Inc. has successfully closed its second and final tranche of a non-brokered private placement financing, raising a total of $32,000,340 through the issuance of 55,173,000 units at a price of $0.58 per unit [1][4] Group 1: Financing Details - The second tranche involved the issuance of 1,590,000 units for gross proceeds of $922,200 [1] - 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 $0.80 for three years [2] - The total cash fee paid to finders for the entire offering amounted to $1,834,754, with no finder's warrants issued [3] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to various activities including drilling programs, exploration and geophysics work, metallurgical and environmental studies, and preparing a pre-feasibility study for the Candelaria Project [4] Group 3: Company Overview - Silver One is focused on the exploration and development of silver projects, holding a 100% interest in the Candelaria Mine in Nevada, which has potential for near-term production [6] - The company has staked 636 lode claims and entered into a Lease/Purchase Agreement for five patented claims on the Cherokee project, which hosts multiple silver-copper-gold vein systems [7] - Additionally, Silver One owns a 100% interest in the Silver Phoenix Project, a high-grade native silver prospect located in the Arizona Silver Belt [8]