Kootenay Silver Inc (KOOYD)

[Alexulf]

Kootenay Silver Resources Inc. Announces Private Placement Financing of up to $800,000
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Kootenay Resources Inc. (the “Company” or “Kootenay”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of up to $800,000. The Private Placement will consist of a combination of non-flow-through and flow-through common shares.

Under the Private Placement, the Company will offer, non-flow-through common shares at a price of $0.10 per share and flow-through common shares at a price of $0.15 per share, raising aggregate combined gross proceeds of up to $800,000. Proceeds received from the Private Placement will be used for the development of the Company’s Moyie Anticline Project, other resource properties (eligible for “Canadian exploration expenses, which are flow-through mining expenditures) and general working capital requirements including becoming a publicly listed company on a Canadian Stock Exchange before the end of 2022.

The securities to be issued under the Private Placement will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The Private Placement is anticipated to close on August 31, 2022 (“Closing”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. The common shares to be issued under the Private Placement will have a hold period of four months and one day from Closing.

In connection with the Private Placement, arms-length finders will receive a cash fee in respect to their subscribers equal to 6.0% of the gross proceeds.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Kootenay Resources Inc.
KSR is an exploration company actively engaged in the exploration and discovery mineral projects in British Columbia, Canada. The Company was formed as a spin-out of Kootenay Silver Inc. (TSXV: KTN) in which prospective Canadian assets were transferred to Kootenay Resources Inc. The transaction was completed in October 2021, Kootenay Silver Inc. currently holds ~3.2 million common shares of Kootenay Resources Inc.

On behalf of the board of directors of the Company:

James McDonald,
Director

https://kootenaysilver.com/

For additional information, please contact:
James McDonald, Director at 403-880-6016
Raj Kang, Director at 604-601-5650