Silver Valley Metals plans $2.4M private placement at $0.08 per unit

Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) announced plans for a non-brokered private placement of up to 30,000,000 units priced at $0.08 per unit, seeking gross proceeds of up to $2.4 million.

Each unit will consist of one common share and one warrant, with each warrant exercisable at $0.12 per share for 24 months from the date of issue.

Three company insiders are participating in the financing for a combined CAD $470,000. The company said this portion constitutes a related party transaction under Multilateral Instrument 61-101, though it will rely on exemptions from formal valuation and minority shareholder approval requirements, as the insiders' participation will not exceed 25% of the company's market capitalization.

No finder's fees will be paid in connection with the offering. All securities issued will be subject to a statutory hold period of four months and one day from the date of issue. The financing remains subject to TSX Venture Exchange approval.

According to a press release, the company intends to use net proceeds for working capital and general corporate purposes, including advancing existing mining and development projects and evaluating potential acquisitions and strategic investments in the mining sector. No final allocation of proceeds has been made.

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