Vancouver, August 30, 2021 - Silverstock Metals Inc.
(“Silverstock”) (CSE: STK) is pleased to announce that, it successfully completed its initial public offering (the “IPO”) of 4,500,000 common shares (the “Shares”) of Silverstock at a price of $0.10 per Share for total gross proceeds of $450,000 (the “Proceeds”).
Pursuant to the agency agreement dated August 3, 2021, Research Capital Corporation acted as agent (the “Agent”) for the IPO. Silverstock paid to the Agent a cash commission equal to 10% of the Proceeds and granted the Agent non-transferable warrants entitling the Agent to purchase a total of 450,000 Shares at a price of $0.10 per Share until August 30, 2023. In connection with the IPO, the Agent also received a corporate finance fee, comprised of $32,000 in cash (including tax) and 100,000 Shares at a deemed value of $0.10 per Share.
The Shares were listed on the Canadian Securities Exchange (“CSE”) effective August 27, 2021, with its common shares commencing trading on the CSE on September 1, 2021, under the trading symbol “STK”.
The net Proceeds will be used by Silverstock for gold and other metal exploration on the Gold Cutter Property.
About Silverstock Metals Inc.
Silverstock is engaged in the acquisition and exploration of its mineral property located in British Columbia, Canada. Silverstock currently has an option to acquire a one hundred percent (100%) undivided interest in the Gold Cutter Property subject to a 1.8% gross smelter return royalty. The Gold Cutter Property is comprised of two contiguous mining claims covering approximately 1,821.1 hectares and is located in the Omineca Mining Division in the Province of British Columbia. The Gold Cutter Property has numerous occurrences of gold and silver vein mineralization, and the focus of the exploration program will be to determine its potential.
For more information please contact:
Silverstock Metals Inc.
James Walchuck, CEO, President & Director
T: +1 604-259-7707
This news release includes certain statements that may be deemed “forward-looking statements”, including statements respecting the services to be provided by Silverstock and the consideration to be paid to Silverstock. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward looking statements. Although Silverstock believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because Silverstock can give no assurance that they will prove to be correct. Since forward-looking statements address 900000048-00152169; 1 future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in Silverstock’s disclosure documents which can be found under Silverstock’s profile on www.sedar.com
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.