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Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Tier One Silver Inc. (TSXV: TSLV) (OTCQB: TSLVF) ("Tier One" or the "Company") announces that the targeted closing date for its listed issuer financing exemption ("LIFE") offering (the "Offering") has been extended to July 15, 2025. In order to pay Peruvian governmental mineral project concession fees due June 30, 2025, the Company has received a C$175,000 bridge loan (the "Bridge Loan") from a director. The Bridge Loan is unsecured, accrues simple interest of 12% per annum and is due for repayment on the earlier of September 30, 2025, and the completion of the LIFE Offering or other debt or equity financing totaling at least C$1 million. The Company is not obligated to pay any other fees or issue any securities in connection with the Bridge Loan.
The Company is seeking to raise at least C$4.1 million through the issuance of $0.09 units (the "Units") under the Offering. Each Unit consists of one common share (a "Share") and one Share purchase warrant exercisable from the date that is 61 days after the closing of the Offering (the "Closing Date") until the date that is 36 months after the Closing Date, at an exercise price of C$0.11 per Share. The net proceeds from the Offering will be used for exploration of the Company's Curibaya project, to include drilling of the Cambaya target area, and for general corporate and working capital purposes. An amended and restated LIFE offering document dated concurrently with this press release has been filed at www.sedarplus.ca and is available on the Company's website. The Offering and Bridge Loan are subject to TSX Venture Exchange approval and customary completion conditions.
The Company may pay to certain eligible finders a cash fee of 6% of the gross proceeds of the Offering and issue finders warrants equal to 6% of the number of Units sold, with each finders warrant having the same terms as the unit warrants.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF DIRECTORS OF TIER ONE SILVER INC.
Peter Dembicki
President, CEO and Director
For further information on Tier One Silver Inc., please contact Investor Communications, at (778) 729-0600 or [email protected].
About Tier One
Tier One Silver is an exploration company focused on creating value for shareholders and stakeholders through the discovery of world-class silver, gold and base metal deposits in Peru. The Company's management and technical teams have a strong track record in raising capital, discovery and monetization of exploration success. For more information, visit www.tieronesilver.com.
Forward-Looking Information and General Cautionary Language
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Forward-looking statements are not historical facts and therefore may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be heavily relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements in regard to the Company's exploration plans, repayment of the Bridge Loan and the closing of and use of proceeds of the Offering.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256471
