Silver Sands Proceeds to Private Placement

Rhea-AI Summary

Silver Sands Resources Corp. (SSRSF) announces a private placement financing of up to 5,000,000 units at $0.06 per unit, aiming for gross proceeds of $300,000. The financing includes one share and one half of one transferable share purchase warrant per unit, with each whole warrant exercisable at $0.10 per common share for two years. The company also mentions 8% finders fees in cash and warrants payable on a portion of the private placement, scheduled to close on February 7th, 2024.

Vancouver, British Columbia--(Newsfile Corp. - February 2, 2024) - Silver Sands Resources Corp. (CSE: SAND) (OTCQB: SSRSF) (the "Company" or "Silver Sands") the Company is pleased to announce that it will proceed to a private placement financing of up to 5,000,000 units @ $0.06 per Unit for gross proceeds of $300,000. Each unit consists of one share at $0.06 and one half of one transferable share purchase warrant. Each whole warrant, (a "Warrant") is exercisable at $0.10 per common share for a period of two years from closing.

8% Finders fees in cash and warrants may be payable on a portion of the Private Placement.

The Company is scheduled to close the Private Placement February 7th, 2024.

About Silver Sands Resources Corp.

Silver Sands is a Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the 6,400 hectare Corner Pocket copper-zinc-silver massive sulfide project, 25 km to the WNW of Corner Brook, Newfoundland. Corner Pocket is contiguous to the west, east and south of the York Harbour Metals Inc., massive sulfide project.

On Behalf of the Board of Directors

Keith Anderson
Chief Executive Officer, President & Director

For further information, please contact:

Keith Anderson
Chief Executive Officer, President & Director (604) 786-7774

SILVER SANDS RESOURCES CORP.
Suite 830 - 1100 Melville Street
Vancouver, British Columbia V6E 4A6
https://www.silversandscorp.com

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

Forward-Looking Statements:

This news release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196753

FAQ

What is Silver Sands Resources Corp.'s (SSRSF) announcement about?

Silver Sands Resources Corp. (SSRSF) announced a private placement financing of up to 5,000,000 units at $0.06 per unit for gross proceeds of $300,000.

How many units are included in the private placement financing?

The private placement financing includes up to 5,000,000 units.

What is the price per unit in the private placement financing?

The price per unit in the private placement financing is $0.06.

What is included in each unit of the private placement financing?

Each unit consists of one share at $0.06 and one half of one transferable share purchase warrant.

What is the exercise price for the whole warrant in the private placement financing?

The whole warrant is exercisable at $0.10 per common share for a period of two years from closing.

When is the scheduled closing date for the private placement financing?

The scheduled closing date for the private placement financing is February 7th, 2024.