Silver Scott Mines, Inc. (OTCPK:SILS) announced private placement of units for gross proceeds of $4,000,000 on October 23, 2012. Each unit consists of one common share and one half of one warrant. The company will issue securities pursuant to exemption provided under Regulation D. Minimum investment accepted from any outside investor will be $25,000.

Pennaluna & Company, Inc. will serve as placement agent to the company and will receive a maximum of $250,000 or up to 10% of gross proceeds as sales commissions.