I suspect that the hammer dropped on KTN due to some leakage of this deal….
Kootenay Silver arranges $12-million public offering
2025-06-17 19:48 ET - News Release
Mr. James McDonald reports
KOOTENAY SILVER ANNOUNCES $12 MILLION BOUGHT DEAL PUBLIC OFFERING OF UNITS
Kootenay Silver Inc. has entered into an agreement with Research Capital Corp. as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 11.43 million units of the company at a price of $1.05 per unit for aggregate gross proceeds to the company of $12,001,500.
Each unit shall comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $1.58 per common share for a period of 36 months following closing of the offering.
The net proceeds from the offering of the units will be used for advancement of the company's Columba Silver project in Mexico, working capital and general corporate purposes.
The company has granted to the underwriters an option to increase the size of the offering by up to an additional number of units, and/or the components thereof, that in aggregate would be equal to 15 per cent of the total number of units to be issued under the offering, to cover overallotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the offering.
The closing of the offering is expected to occur on or about June 25, 2025, or such other earlier or later date as the underwriters may determine. Closing is subject to the company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange, to list, on the date of closing, the common shares, and the common shares issuable upon exercise of the warrants and the underwriters' broker warrants, on the exchange.
In connection with the offering, the company intends to file a prospectus supplement within two business days to the company's short form base shelf prospectus dated March 27, 2024, with the securities regulatory authorities in each of the provinces and territories of Canada (except Quebec). The shelf prospectus and the prospectus supplement will contain important detailed information about the company and the offering. Prospective investors should read the prospectus supplement and accompanying shelf prospectus, and the other documents the company has filed on SEDAR+, before making an investment decision.
About Kootenay Silver Inc.
Kootenay Silver is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre region of Mexico. Supported by one of the largest junior portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of its priority silver projects located in prolific mining districts in Sonora state and Chihuahua state, Mexico, respectively.
We seek Safe Harbor.
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