VANCOUVER, Sept. 27, 2017 /CNW/ - Silver Viper Minerals Corp. (the "Company") (TSX-V: VIPR) is pleased to announce that it has successfully completed its initial public offering (the "IPO") of 12,262,500 common shares of the Company at a price of $0.25 per share for gross proceeds of $3,065,625 (the "Proceeds"), and has received approval of its application to list its common shares on the TSX Venture Exchange ("TSX-V"). The Company anticipates that its common shares will commence trading on the TSX-V on or about September 29, 2017 under the trading symbol "VIPR".
The net proceeds of the IPO will be used to fund mineral exploration work on the Company's Clemente Property, and for working capital purposes. Haywood Securities Inc. acted as agent in respect of the IPO.
Ingalls & Snyder LLC account holders participated in the IPO, purchasing an aggregate of 2,600,000 common shares. The participating account holders consisted of four different beneficial holders, each of whom beneficially own less than 10% of the issued and outstanding shares of the Company. As a result of the closing of the IPO, the Company now has 42,710,301 common shares issued and outstanding.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company has an option to acquire a one hundred percent (100%) interest in the Clemente Silver-Gold Property, a highly prospective exploration project located within the prolific Sonora-Mojave megashear. The Company's directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects.
Forward Looking Information
Information set forth in this press release contains forward-looking statements relating to the use of proceeds, are made as of September 27, 2017 and are based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in currency exchange rates; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Amended and Restated Prospectus dated July 21, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Silver Viper Minerals Corp.
For further information: Silver Viper Minerals Corp., 1055 W Hastings St, Suite 1130, Vancouver, BC, V6E 2E9, Stephen Cope, CEO, (604) 687-8566, email@example.com