Jun 21, 2024
Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “Silver North” or the “Company”) is pleased to announce that further to its news release dated June 5, 2024, it has closed the first tranche (the “First Tranche”) of its non-brokered private placement (the “Offering”) for gross proceeds of $562,500.
In connection with the closing of the First Tranche the Company issued 2,500,000 charity flow-through units of the Company (the “CFT Units”) at a price of $0.225 per CFT Unit for gross proceeds of $562,500. Each CFT Unit is comprised of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”) of the Company, each of which will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Each Warrant entitles the holder thereof to purchase one Share (a “Warrant Share”) until June 21, 2028 at an exercise price of $0.35 per Warrant Share.