Welcome To The Silvore Fox Minerals Corp HUB On AGORACOM
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Message: .09 Private Placement
Global Exploration for Base and Precious Metals
Silvore Fox Minerals Corp. (the “Corporation” – TSX Venture – “SFX”) is pleased to announce that it proposes to offer to investors, by way of a non-brokered private placement (the “Private Placement”), up to 22,222,222 units (“Units”) at a price of $0.09 per Unit for gross proceeds of $2,000,000. Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant a “Warrant”), whereby each Warrant will entitle the holder to purchase an additional common share of the Corporation (the “Warrant Share”) at a price of $0.12 per share during the 12 months from the date of issuance of the Warrant and at a price of $0.15 per share during the second 12 months.
The proceeds of the Private Placement will be used to fund the acquisition cost of the two Chilean properties, Totoral and Harvest which will be purchased from Sinotech Mineral Exploration Chile Limitada (“Sinotech Chile”) by Golden Fox Resources SpA and Golden Eagle Resources SpA, the indirectly wholly-owned subsidiaries of the Corporation. (as announced on January 9, 2012), with the balance used to fund work programs in Chile and Canada and provide general working capital.
Sinotech Chile is a subsidiary of Sinotech Mineral Exploration Co. Ltd of China which is the parent company of Beijing Donia Resources Co. Ltd., the largest single shareholder of Silvore Fox with approximately 30% of the outstanding shares of the Corporation.
The Private Placement is conditional upon receipt of approval by the TSX Venture Exchange.
About Silvore Fox Minerals Corp.
Silvore Fox Minerals Corp. (“Silvore Fox”) is a Canadian public mineral exploration company based in Toronto. We are focused on developing the base and precious metal exploration projects within our diversified portfolio of properties.
President and CEO
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