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The Units were acquired by
A copy of Sprott's early warning report will appear on Silver Grail's profile on SEDAR and may also be obtained by calling
There were no finder's fees or other commissions associated with the transaction. Certain of the Company's insiders participated in the private placement.The proceeds of the financing will be used to advance the Company's many properties in the
The company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the units purchased by insiders of the Company nor the consideration paid by them exceeds 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the related-party transaction at least 21 days prior to the closing of the privateplacement, which the company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the private placement in an expeditious manner.
All securities issued pursuant to the private placement are subject to a statutory four-month hold period. The private placement was approved subject to closing by the TSX-V on
Respectfully:
"
President,
For more information contact Investor Relations at 778-430-5680 orbarry@teuton.com. If you would like to be added to Silver Grail's news distribution list, please send your email address todino@teuton.com.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon.
The
information contained herein.
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Copyright (c) 2020 TheNewswire - All rights reserved., source