Tier One Silver Increases and Closes C$3.36 Million Private Placement

Rhea-AI Summary

Tier One Silver Inc. (TSXV: TSLV, OTCQB: TSLVF) has successfully closed a non-brokered private placement, raising C$3.36 million from the initial C$3.0 million target, through the issuance of 7,464,654 units at C$0.45 per unit. The proceeds will be allocated for ongoing exploration at their flagship Curibaya project in Peru and for general working capital. The securities will be subject to a hold period of four months from issuance, pending final TSX Venture Exchange approval.

Positive

• Increased private placement from C$3.0 million to C$3.36 million.
• Issuance of 7,464,654 units at C$0.45 strengthens capital position.
• Funds will support exploration at flagship Curibaya project.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 31, 2022 / Tier One Silver Inc. (TSXV:TSLV)(OTCQB:TSLVF) ("Tier One" or the "Company") is pleased to announce that it has increased and completed its non-brokered private placement, the terms of which were announced May 20, 2022, from C$3.0 million to C$3.36 million through the issuance of 7,464,654 units at an offering price of C$0.45. The Company intends to use the net proceeds to fund continued exploration at the Company's portfolio of assets in Peru, primarily Curibaya, and for general working capital. The securities being issued pursuant to the non-brokered private placement will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities law and subject to final approval of the TSX Venture Exchange upon filing standard documentation.

ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.

Peter Dembicki

President, CEO and Director

For further information on Tier One Silver Inc., please contact Natasha Frakes, Vice President of Communications at (778) 729-0600 or info@tieronesilver.com

About Tier One

Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. The Company's exploration assets in Peru include: Hurricane Silver, Coastal Batholith, Corisur and the flagship project, Curibaya. For more information, visit www.tieronesilver.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Tier One Silver Inc.

View source version on accesswire.com:
https://www.accesswire.com/703438/Tier-One-Silver-Increases-and-Closes-C336-Million-Private-Placement

FAQ

What is the total amount raised in Tier One Silver's recent private placement?

Tier One Silver raised a total of C$3.36 million in its recent private placement.

How many units did Tier One Silver issue in the private placement?

Tier One Silver issued 7,464,654 units in the private placement.

What will the proceeds from the private placement be used for?

The proceeds will primarily fund continued exploration at the Curibaya project and for general working capital.

What is the offering price per unit for Tier One Silver's private placement?

The offering price per unit for the private placement was C$0.45.

When is the hold period for the securities issued in the private placement?

The hold period for the securities is four months and one day from the date of issuance.