NOT FOR DISSEMINATION IN
Following the closing of the first tranche, Inflection, an entity owned by Mr.
In accordance with the rules of the TSX Company
Manual, the Company is seeking disinterested shareholder approval at its
upcoming annual and special meeting of shareholders on
It is expected that Inflection will become a control
person of the Company following the completion of the second tranche of
the private placement through the subscription of an additional
17,476,471 Common Shares which would result in Inflection holding 25.7%
of the issued and outstanding share capital of the Company upon closing.
It is also expected that insiders of the Company, who have participated
in financings during the last 6 months, will subscribe in the second
tranche of the private placement. The Company anticipates the closing of
the second tranche will occur on or before
The Common Shares issued in connection with the first tranche are subject to statutory resale restrictions which expire on
Sberbank Private Banking (
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.
The primary business of the Company is the evaluation, acquisition, exploration and development of silver properties in the
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.