Silver Mountain Resources Completes Initial Public Offering

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Last update: Feb 2, 2022

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TORONTO, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") is pleased to announce that it has closed its previously announced initial public offering (the "Offering") of 46,000,000 units of the Company (the "Units") at a price of $0.50 per Unit (the "Offering Price"), for gross proceeds of $23,000,000. The Company has also issued an additional 6,900,000 Units at the Offering Price, for additional gross proceeds of $3,450,000, in connection with the exercise in full of the over-allotment option.