GR Silver Mining Announces $7.02 Million Best Efforts Private Placement of Special Warrants
GR Silver Mining Ltd. (“GR Silver Mining” or the “Company“) (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce that it has entered into an agreement with Beacon Securities Limited (“Beacon“), on behalf of a syndicate of agents to be co-led by Beacon and Red Cloud Securities Inc. (collectively, the “Agents“), in connection with a “best efforts” private placement of up to 26,000,000 special warrants of the Company (the “Special Warrants“) at a price of $0.27 per Special Warrant (the “Issue Price“) for aggregate gross proceeds to the Company of up to $7,020,000 (the “Offering“). Each Special Warrant shall be automatically exercisable into one unit of the Company (a “Unit“), as described below. Each Unit shall consist of one common share in the capital of the Company (a “Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will be exercisable to acquire one Share for a period of 36 months following closing of the Offering at an exercise price of $0.37 per Share.