Silver Predator Completes Acquisition of Taylor Project and Closes Private Placementadmin
Silver Predator Completes Acquisition of Taylor Project and Closes Private Placement
Reno, Nevada US, December 12, 2013 /FSC/ – Silver Predator Corp. (SPD – TSX), (the “Company”) is pleased to announce that on December 11, 2013, it completed the exercise of its option to acquire 100% of the Taylor silver project in eastern Nevada, USA and now has full title to the property. In connection with the exercise of the option, the Company issued 6,283,333 common shares (the “Shares”) to Americas Bullion Royalty Corp. (TSX:AMB) (“AMB”) on December 11, 2013, representing the final payment required to exercise the option. For further information, please see the Company’s news releases of December 10, 2010, January 21, 2013 and March 18, 2013.
Further to the Company’s press release of October 25, 2013, the Company also announces that on December 12, 2013, it closed the first tranche of a non-brokered private placement of 12,300,000 Shares at a price of $0.05 per Share to raise gross proceeds of $615,000. On closing of the first tranche, 7,719,869 Shares were issued, of which 5,419,869 Shares were purchased by AMB.
The second tranche of 4,580,131 Shares, which were also subscribed by AMB under the private placement, will be issued upon the Company obtaining disinterested shareholder approval. In connection with the closing of the private placement, the Company paid finders’ fees of $2,500. The proceeds from the private placement will be used for exploration of the Company’s properties and for general corporate purposes.
As a result of these recently closed transactions, AMB now holds directly and indirectly 25,476,535 Shares, or approximately 37.51% of the Company’s issued and outstanding shares, prior to closing of the second tranche.
The Company will announce the date for a shareholder meeting in due course.
The securities referenced in this news release have not been registered and may not be sold in the United States absent registration or an exemption from registration.
For additional information:
William M. Sheriff, Chairman
(208) 635 5415
Nathan A. Tewalt, Chief Executive Officer
(775) 284 1271
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Silver Predator’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Silver Predator assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
To view the press release as a PDF file, please click on the following link:
Source: Silver Predator Corp. (TSX: SPD) http://www.silverpredator.com/
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Posted: December 12th, 2013 under FSCWIRE.