Vancouver, British Columbia--(Newsfile Corp. - September 14, 2020) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that it has closed its previously announced non-brokered private placement of 26,362,442 shares for gross proceeds of $17,135,587 (the "Private Placement"). Mr. Eric Sprott has increased his investment in order to maintain 19.61% of Aftermath's issued and outstanding Common Shares.
All securities issued in connection with the Private Placement are subject to a hold period and may not be traded until January 15, 2021, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
An aggregate amount of $494,567.44 in cash and 290,360 common shares were paid as finders' fees in connection with the Private Placement.
The Company intends to use the net proceeds for drilling and other technical studies on the Berenguela Silver-Copper project in Peru, and the Challacollo and Cachinal Silver-Gold projects in Chile, and for general working capital purposes.
About Aftermath Silver Ltd:
Aftermath Silver is a Canadian junior exploration company. Aftermath offers investors silver-focused development opportunities in Chile and Peru, two of the world's top mining and silver jurisdictions. Aftermath has assembled the right combination of talent, properties, strategy, risk management and marketing for investors seeking quality silver opportunities in today's precious metals markets. Aftermath's leadership is recognized for value generation and corresponding shareholder success.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements within this news release, other than statements of historical fact relating to Aftermath Silver, are to be considered forward-looking statements with respect to the Company's intentions for the Cachinal Project in Chile. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, or include words such as "expects", "goal", "potential", "anticipates", "plans", "believes", "considers", "significant", "intends", "targets", "estimates", "seeks", attempts", "assumes", and other similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Aftermath Silver Ltd, are, by their nature, subject to inherent risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include: the interpretation of previous and current results, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance these acquisitions further exploration and development, delays in the completion of exploration, the future prices of silver and gold, and other metals, and general economic, market and/or business conditions. There can be no assurances that such statements and assumptions will prove accurate and, therefore, readers of this news release are advised to rely on their own evaluation of the information contained within. In addition to the assumptions herein, these assumptions include the assumptions described in Aftermath Silver Ltd's Management's Discussion and Analysis for the three months ended August 31, 2019, as filed with the TSX Venture Exchange and available on SEDAR under Aftermath's profile at www.sedar.com.
Although Aftermath Silver Ltd. has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking statements, there may be other risks, uncertainties and other factors that cause future performance to differ from what is anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Aftermath Silver Ltd. does not assume any obligation to update any forward-looking statements after the date on which such statements were made, except as required by applicable law.