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GR SILVER MINING LTD. — Capital/Financing Update 2023
Dec 9, 2023
47384_rns_2023-12-08_c1781402-5d3d-4ab6-82ee-1e38ca3a78f4.pdf
Capital/Financing Update
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MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
GR Silver Mining Ltd. Suite 1050 – 400 Burrard Street Vancouver, BC V6C 3A6
- Item 2. Date of Material Change
December 8, 2023
- Item 3. News Release
A news release dated and December 8, 2023, at Vancouver, British Columbia through CNW Group and SEDAR.
- Item 4. Summary of Material Change
GR Silver Mining Announces Debt Settlement
Item 5. Full Description of Material Change
See news release, a copy of which is attached hereto.
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Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102
- Not applicable.
Item 7. Omitted Information
- Not applicable.
Item 8. Executive Officer
Eric Zaunscherb, Chair & CEO Telephone: 1.647.293.8457
- Item 9. Date of Report
December 8, 2023
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December 8, 2023
GR Silver Mining Announces Debt Settlement
Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV|GRSL, OTCQB|GRSLF, FRANKFURT|GPE) – The Company announces that it has negotiated debt settlement with arm’s length and nonarm’s length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX-V, the Company has settled aggregate debt of $100,792 outstanding as at October 31, 2023, in consideration for which it will issue an aggregate of 1,343,891 common shares at a deemed price of $0.075 per share.
Directors and officers of the Company (the “ Insiders ”) are participating in the debt settlement transactions and will receive an aggregate of 788,879 shares in consideration for settlement of an aggregate $59,166 debt. Participation by the Insiders is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with Insiders’ participation in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that the Insiders’ participation in the debt settlement transactions does not exceed 25% of the fair market value of the Company’s market capitalization.
All shares issued in relation to these debt settlements are subject to a hold period expiring four months + one day after the date the shares are issued, in accordance with applicable securities laws and the policies of the TSX-V.
About GR Silver Mining Ltd .
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the Plomosas Project, which includes the integrated San Marcial Area and former Plomosas Mine. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km[2] of concessions containing several structural corridors totaling over 75 km in strike length.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
For further information, please contact: Eric Zaunscherb Telephone: +1.647.293.8457 Email: [email protected]
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forwardlooking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Neither the 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 press release.
GR Silver Mining Ltd. Suite 1050 - 400 Burrard Street Vancouver, BC V6C 3A6