Castle Silver arranges $1.03-million private placement

Jan 8, 2018

2018-01-08 11:48 ET – News Release

Mr. Frank Basa reports

CSR ARRANGES FINANCING FOR $1 MILLION

Castle Silver Resources Inc. has arranged a non-brokered private placement for total proceeds of $1.03-million.

Proceeds from the hard dollar (non-flow-through) financing at 35 cents per unit will go toward expanding the underground cobalt program at the past producing Castle silver mine near Gowganda, Ont.

Private placement details

Castle Silver will issue a total of 2,942,857 units at 35 cents per unit. Each unit of the private placement comprises one share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 50 cents per share for a period of two years from closing, subject to TSX Venture Exchange approval. No finders’ fees will be paid in connection with the private placement.

All securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period in accordance with applicable securities laws.

About Castle Silver Resources Inc.

The Castle silver mine, Beaver mine and Violet mine, all 100 per pent owned by Castle Silver, are past-producing properties in the Northern Ontario silver-cobalt camp. While they comprise only 2,840 hectares, they are sources of high-grade cobalt that can quickly be developed into a shovel-ready state. The company also owns the Re-2OX process which has been pilot plant tested to separate the various metals that comprise the mineralization in the cobalt camp vein systems.

We seek Safe Harbor.

https://www.castlesilverresources.com/index.php/news-releases/2018-news/