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FAQ: Silver Crown Royalties' Strategic Investment with Michael Gentile
TL;DR
Silver Crown Royalties secured a strategic $3M investment from Michael Gentile, providing capital to acquire accretive silver royalties and gain a competitive edge in precious metals.
Silver Crown Royalties closed a non-brokered private placement of 424,500 units at C$7 each, with each unit comprising one common share and one warrant exercisable at C$8.25 for three years.
This investment strengthens Silver Crown Royalties' ability to support sustainable mining projects through royalty agreements, contributing to responsible resource development and economic stability.
Michael Gentile now controls 18.52% of Silver Crown Royalties on a partially diluted basis through this strategic investment in the silver-focused royalty company.
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Silver Crown Royalties Inc. has closed a non-brokered private placement with Michael Gentile, who invested approximately C$3,000,000 by purchasing 424,500 units at C$7 per unit.
Michael Gentile is the strategic investor who subscribed for the private placement units, acquiring 424,500 Common Shares, 424,500 Warrants, and 50,000 stock options through this investment.
The private placement raised approximately C$3,000,000 from the sale of 424,500 units at C$7 per unit.
Each unit consists of one Common Share and one Warrant, with each Warrant entitling the holder to acquire one additional Common Share at C$8.25 for three years following the closing date.
The proceeds will be allocated primarily toward specific accretive silver royalties that have been identified and are advancing, and to bolstering general working capital.
Following this investment, Michael Gentile owns approximately 18.52% of the issued and outstanding Common Shares on a partially diluted basis.
Michael Gentile filed an Early Warning Report as required by National Instrument 62-103, which will appear on the Company's profile on SEDAR+ at www.sedarplus.ca.
No, the securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons absent registration or an exemption from registration requirements.
The Common Shares and Warrants underlying the units will be subject to a statutory hold period of four months plus a day following the closing date.
Silver Crown Royalties trades under the symbols Cboe: SCRI, OTCQX: SLCRF, and FRA: QS0.
Curated from NewMediaWire
