On August 22, 2019, Kootenay Silver Inc. (“Kootenay”) completed a non-brokered private placement financing of units (each, a “Unit”) at a price of $0.16 per Unit for gross proceeds of $5,000,000. The entire private placement was subscribed for by Mr. Eric Sprott. Each Unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable to purchase one common share at an exercise price of $0.22 until August 22, 2022.
Kootenay is a Canadian and Mexican based silver exploration company actively engaged in the development of two major silver projects in Mexico, including the La Cigarra Silver project in Chihuahua, and the Promontorio and La Negra silver discovery in Sonora, Mexico. Kootenay trades under the symbol “KTN” on the TSX Venture Exchange.