Flow-Through Private Placement
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Silver North $2.1 Million Non-Brokered Flow-Through Private Placement Fully Subscribed
Thenewswireยท 2025-07-15 11:30
Core Viewpoint - Silver North Resources Ltd. is conducting a non-brokered private placement to raise funds through two offerings: a flow-through unit offering and a non-flow-through unit offering, aimed at supporting exploration and administrative expenses. Group 1: Private Placement Details - The FT Unit Offering has been fully subscribed, aiming to raise up to $2,100,000 at a price of $0.21 per unit, each unit consisting of one common share and one-half warrant [2][6] - The HD Unit Offering is set to raise an additional $500,000 at a price of $0.15 per unit, also comprising one common share and one-half warrant [3][6] - Each warrant from both offerings allows the holder to purchase one common share at an exercise price of $0.35 for a period of 48 months [2][3] Group 2: Use of Proceeds - Proceeds from the FT Units will be allocated for exploration and related programs on the Haldane and GDR mineral properties in the Yukon Territory [4][12] - Funds from the HD Units will be utilized for general and administrative expenses and project pipeline development [4] Group 3: Tax and Regulatory Compliance - The company will incur eligible "Canadian exploration expenses" from the FT Unit proceeds, renouncing these expenditures to subscribers by December 31, 2025 [5] - The offerings are subject to regulatory approvals, including compliance with the TSX Venture Exchange policies [6][10] Group 4: Exploration Plans - A 10-hole diamond drilling program is planned at the Haldane project to target expansion of silver-lead-zinc mineralization, with previous drilling returning significant silver grades [13] - Exploration activities will also include a prospecting, sampling, and mapping program at the GDR project, focusing on a geochemical anomaly [12] Group 5: Company Overview - Silver North Resources Ltd. owns the Haldane Silver Project, Tim Silver Project, and GDR project, with plans to acquire additional silver properties in favorable jurisdictions [14] - The company is listed on the TSX Venture Exchange under the symbol "SNAG" and trades on the OTCQB market in the United States under the symbol "TARSF" [15]