/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Jan. 17,
2024 /CNW/ - GR Silver Mining Ltd. ("GR Silver
Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT:
GPE) – announces that it proposes to undertake a non-brokered
private placement of up to 15 million units (each, a
"Unit"), at a purchase price of $0.10 per Unit, to raise total gross proceeds of
up to $1.5 million (the
"Offering"). Each Unit will consist of one common share of
the Company and one-half common share purchase warrant. Each whole
warrant will entitle the holder to purchase one common share of the
Company at a price of $0.15 at any
time on or before that date which is 24 months after the closing
date of the Offering.
The gross proceeds received from the sale of the Units will be
used for work programs on the Company's Plomosas Project and for
general working capital.
The Units will be offered to qualified investors in reliance
upon exemptions from the prospectus and registration requirements
of applicable securities legislation. The Company will pay finders'
fees to eligible finders in connection with the Offering, subject
to compliance with applicable securities laws and the policies of
the TSXV.
All securities issued and sold under the Offering will be
subject to a hold period expiring four months and one day from
their date of issuance. Completion of the Offering and the payment
of any finders' fees remain subject to the receipt of all necessary
regulatory approvals, including the approval of the TSXV.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States of America. The
securities have not been and will not be registered under the
United States Securities Act of 1933 (the "1933 Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons (as
defined in the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration is available.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration
company engaged in cost effective silver-gold resource expansion on
its 100%-owned assets, located on the eastern edge of the Rosario
Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two
past producer precious metal underground and open pit mines within
the Plomosas Project. In conjunction with a portfolio of early to
advanced stage exploration targets, the Company holds 734
km2 of concessions containing several structural
corridors totaling over 75 km in strike length.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair &
CEO
Cautionary Statement Regarding Forward-Looking
Information
This press release contains
"forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on
the beliefs of management and reflect the Company's current
expectations. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these
words or such variations thereon or comparable terminology are
intended to identify forward-looking statements and information.
Such statements and information reflect the current view of the
Company. Risks and uncertainties may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements.
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 press release.
SOURCE GR Silver Mining Ltd.