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Silver
NOT FOR DISSEMINATION IN
The Company intends to use the gross proceeds of the Offering to finance the further development of the Mangazeisky project towards production and for general working capital purposes.
Pursuant to the TSX Company Manual, it is anticipated that the company will require shareholder approval in relation to the Offering, in the event that:
Accordingly, it is contemplated that the Offering will be required to close in two tranches: (i) with a first tranche of up to 23,700,000 being issued at closing to Inflection pursuant to which Inflection will hold 19.9% of Silver Bear's issued and outstanding Common Shares on closing; and (ii) a second tranche of Common Shares for up to 41,005,882 Common Shares, including up to an additional 17,476,471 Common Shares being subscribed to by Inflection, to close upon the necessary regulatory and security holder approvals being obtained.
The Common Shares will be subject to statutory resale
restrictions for a period of four months and one day following closing
of the Offering. Closing of the first tranche of the Offering is
expected to occur on or about
Sberbank Private Banking (
The primary business of the Company is the evaluation, acquisition, exploration and development of silver properties in the
Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management's expectations. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Silver Bear cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risks factors include but are not limited to risks factors identified by Silver Bear in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause Silver Bear's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although Silver Bear has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and Silver Bear assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
For further details, please visit www.silverbearresources.com.
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