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| Home : Silver Mountain Mines Inc. Announces Private Placement |
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Oct 13
2012 |
Silver Mountain Mines Inc. Announces Private Placement |
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CALGARY, ALBERTA--(Marketwire - Oct. 12, 2012) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") announces a non-brokered private placement of up to 10,000,000 flow-through units for total cash proceeds of up to $1,200,000 (the "Offering"). Each Unit consists of one common share ("Common Share") of the Company to be issued on a flow-through basis (each, a "Flow-Through Share") and one (1) Common Share purchase warrant (each, a "Warrant"). One Warrant entitles the holder thereof to acquire, subject to adjustment, one Common Share at a price of $0.20 per Common Share on or before 4:30 p.m. (MST) on the date December 31st, 2014 (the "Expiry Date") except that, in the event the Common Shares of the Corporation as quoted on the TSX Venture Exchange close at or above $0.30 per Common Share for twenty one (21) consecutive trading days, then the Company may, at its election, accelerate the Expiry Date upon not less than 30 days written notice to each subscriber. |
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| Source:http://www.marketwire.com/mw/release.do?id=1712993&sourceType=3 |
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