August 10, 2016
Silver Predator Closes Private Placement
Toronto, Ontario, August 10, 2016: Silver Predator Corp. (TSX.V: SPD) (the “Company” or “Silver Predator”) is pleased to announce the closing of its non-brokered private placement financing announced on August 3, 2016. The Company sold 15 million common shares at a price of five cents per common share to raise proceeds of $750,000. The net proceeds of the offering will be used by the Company for permit fee renewal, working capital requirements for commercial activities and other general corporate purposes.
All shares issued in connection with the private placement are subject to a Canadian statutory hold period which ends on December 11, 2016. In addition, shares issued to United States accredited investors in connection with the private placement are subject to applicable hold periods under United States securities laws.
The Company’s common shares currently trade under the symbol SPD on the TSX Venture Exchange. The common shares are not listed for trading on any U.S. stock exchange or automated dealer quotation system, and the corporation has no current plan or intention to effectuate any such listing.
Silver Predator Corp.
Silver Predator owns the Springer Tungsten Mine and Mill Complex where the current mineral resource estimate(1) is 246,117 Indicated tons at an average grade of 0.43% containing 106,113 STU’s (short ton units) of WO3 (tungsten trioxide) and 1,768,968 Inferred tons at an average grade of 0.48% containing 852,884 STU’s of WO3. The Springer facility was originally constructed by General Electric Corp. in the late 1970’s and was operational for a few months in the early 1980’s when the project was put on care and maintenance due to low tungsten prices. Golden Predator Corp. modernized the mill in 2007-2008.
The Company also holds the Taylor silver-gold project in Nevada. The Taylor project hosts a current resource estimate (2) , is open to expansion, and is located in a district that has identified the potential for discovery of additional silver and gold deposits.
Mr. Michael Maslowski, CPG, a Qualified Person as defined by National Instrument 43-101 and a consultant for the Company, has reviewed, verified and approved disclosure of the technical information contained in this news release.
For additional information:
Nathan A. Tewalt
Chief Executive Officer
(208) 635 5415
1) Silver Predator Corp News Release dated February 12, 2016 2) National Instrument 43-101 Technical Report; NI 43-101 of the Taylor Silver Project, White Pine County, Nevada, USA by Thomas H. Chadwick, Dean D. Turner, and Patrick J. Hollenbeck dated March 18, 2013 filed on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This press release contains forward-looking statements regarding future events, including the ability of the Company to successfully conclude the proposed sale of assets and to meet future payment obligations under the notes. There are numerous risks and uncertainties that could cause actual results and Silver Predators’ plans and objectives to differ materially from those expressed in the forward-looking statements. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Silver Predator assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.