The Offering is being conducted by
Each Unit will be comprised of one common share of the
The Company has granted to the Agents an option, exercisable up to 48 hours prior to the closing date of the Offering, to sell up to an additional 15% of the offered Units at a price of
The net proceeds from the Offering are expected to be used for exploration, corporate development, and general working capital purposes. Closing of the Offering is expected to occur on or about
Closing of the Offering is subject to regulatory approval and all securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable Canadian securities laws. The Company has agreed to pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering. In addition, the Company has agreed to issue to the Agents compensation warrants of the Company exercisable for a period of 36 months, to acquire in aggregate that number of common shares of the Company which is equal to 6% of the number of offered shares sold under the Offering at an exercise price of
The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within
About
Contact:
Email: info@summasilver.com
Web: www.summasilver.com
Cautionary note regarding forward-looking statements
This news release contains certain 'forward looking statements' and certain 'forward-looking information' as defined under applicable Canadian and
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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