Silver Sands Closes Private Placement and Debt Settlement

Core Viewpoint - Silver Sands Resources Corp. has successfully closed a private placement financing and entered into debt settlement agreements to strengthen its financial position and support operational activities [1][3][4]. Financing Details - The company issued 6,499,333 Units at a price of $0.075 per Unit, resulting in gross proceeds of approximately CAD 487,449.98 [1]. - Each Unit consists of one common share and one-half of a transferable share purchase warrant, with each whole warrant exercisable at $0.15 per common share for 24 months [1]. - A finders fee of 7% was paid, totaling CAD 20,571.25 in cash, along with the issuance of 274,283 non-transferable finders warrants [2]. Debt Settlement - The company settled debts with three directors and the corporate secretary by issuing 2,365,000 Units at a deemed price of $0.075 per Unit, addressing a total indebtedness of CAD 177,375.00 [3]. - Similar to the private placement, each Unit in the debt settlement consists of one common share and one-half of a transferable share purchase warrant [3]. Use of Proceeds - The proceeds from both the private placement and debt settlement will be utilized for general working capital and property investigation [4]. - A total of 8,864,333 common shares and 4,432,166 Warrants will be subject to a hold period until June 14, 2026 [4]. Company Overview - Silver Sands Resources Corp. is engaged in mineral exploration and acquisition of mineral property assets in mining-friendly jurisdictions, focusing on developing economic precious and base metal properties [5].