Silver Predator Closes Private Placement with Sprott Asset Management LP
CNSX: SPD
VANCOUVER, Sept. 30 /PRNewswire-FirstCall/ - Silver Predator Corp. (CNSX:SPD) (the "Company") is pleased to announces that it has closed a non-brokered private placement and issued 1,000,000 units of the Company (the "Units") to Sprott Asset Management LP on behalf of certain funds and managed accounts, at a price of $0.40 per Unit for gross proceeds of $400,000. Each Unit consists of one common share of the Company (a "Share") and one half of one share purchase warrant (a "Warrant"). Each full Warrant entitles the holder to purchase one additional Share at a price of $0.55 until September 29, 2011. The proceeds from this private placement will be used for general working capital purposes.
"We are pleased to receive this investment from Sprott Asset Management LP", said Louis A. Lepry, President & CEO. "Sprott's support is an endorsement of silver in general and our business plan in particular as we begin to build an important silver company within the politically stable confines of North America."
About Silver Predator Corp.
Silver Predator Corp.'s corporate mandate is to explore and develop commercially viable silver resources in the leading silver districts of Yukon, Canada and Nevada, USA. Working within stable geopolitical jurisdictions, Silver Predator will focus on silver-dominant bulk tonnage opportunities. Proven management plus access to unparalleled geological talent in the Yukon and extensive experience in Nevada provide the ability to maximize shareholder value from the Company's quality asset base. Silver Predator has agreed to acquire 100% interests in 15 exploration and development properties and acquire options to earn 100% interests (subject to certain royalties) in 5 properties in Nevada and the Yukon, from Golden Predator Corp., Rockhaven Resources Ltd. and Strategic Metals Ltd. This transaction is anticipated to close in 2010.
The CNSX has in no way passed on the merits of these proposed transactions and has neither approved nor disapproved the contents of this news release.
Cautionary Statements
There can be no assurance that the proposed transactions will be completed as proposed, or on a specific date, or at all. There can be no assurances that the market price of the common shares of the Company will increase as a result of the proposed transactions. The marketability and trading liquidity of the common shares of the Company may not improve as a result of the proposed transactions.
Forward-Looking Statements
This news release contains certain forward-looking information and statements with the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "confident", "might", "proposed" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the proposed transactions.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements. These include, but are not limited to, risks associated with fluctuations in the market price of the Company's common shares, commodity price and exchange rate fluctuations and uncertainties and risks relating to the outcome of the Proposed Transaction on the market price, marketability and liquidity of the Company's common shares. The forgoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to update publicly or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Silver Predator Corp.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article