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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (1069)8/15/2013 6:25:13 PM
From: Goose94Read Replies (1) of 202700
 
U.S. Silver & Gold (USA-T) private placement oversubscribed

Aug 15, 2013 - News Release

U.S. Silver & Gold Inc. has an oversubscribed book in respect of its previously announced non-brokered private placement for proceeds of approximately $5.77-million."This private placement was led by a well-respected strategic investor, who has confidence in management's ability to continue to manage costs and understands the company's leverage in a rising silver market," said Darren Blasutti, president of U.S. Silver & Gold. "It will strengthen our balance sheet, which remains a key corporate objective in the current fluctuating silver price environment. I'm also happy to report that the placement was oversubscribed and that several members of the board and management are participating."

U.S. Silver & Gold intends to use the proceeds to continue development of the low-capital intensity, high-potential Caladay zone, and for general administrative and corporate costs.

Closing of the private placement is expected to occur on or about Aug. 22, 2013. The private placement and related finder's fee are subject to certain conditions, including completion of formal documentation and receipt of regulatory approval, including the approval of the Toronto Stock Exchange.

We seek Safe Harbor.
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