Cascada Silver to Commence Trading on the Canadian Securities Exchange
TORONTO, Ontario, March 12, 2021 – Cascada Silver Corp. (CSE:CSS) ("Cascada") is very pleased to report that it has received all necessary regulatory and Canadian Securities Exchange (the "CSE") approvals to commence trading of its common shares ("Common Shares") on the CSE today under the symbol "CSS". With receipt of listing approvals in hand, Cascada will increase its exploration activities on its portfolio of silver properties located in Chile's Atacama Region, including the historic Agua Amarga silver property where high grade silver-bearing veins were mined over a period of 70 years during the 19th century.
Commenting on the receipt of listing approvals, Carl Hansen, Cascada's CEO stated, "We are pleased that Cascada will start trading on the CSE and, with approximately $3.7 million in the treasury, we can now focus on ramping up our exploration activities in Chile. We have had field crews active on the ground at Agua Amarga for the past month conducting mapping and structural analysis of the silver vein systems in preparation for a drilling program to commence during the second quarter of 2021. In addition, we will now mobilize field crews onto our Marilin and El Gringo silver-gold-copper properties to start sampling programs."
On March 12, 2021, 44,890,000 special warrants ("Special Warrant"), which were issued at a price of $0.10 per Special Warrant under the terms of a special warrant indenture (the “SW Indenture”) dated October 15, 2020, pursuant to a private placement offering led by Mackie Research Capital Corporation as sole agent and sole bookrunner, were converted to units of Cascada (each a "SW Unit") on a 1.0 Special Warrant to 1.1 SW Unit basis, resulting in the issuance of 49,379,000 SW Units. Each SW Unit is comprised of one Common Share and one Common Share purchase warrant ("Warrant"). In addition to the SW Units issued under the terms of the SW Indenture, a concurrent financing of 281,000 units (each, a "Financing Unit"), at a price of $0.10 per Financing Unit, for net proceeds of $28,100, also closed on March 12, 2021. Each Financing Unit is comprised of one Common Share and one Warrant. Each Warrant, whether issued under the SW Indenture or pursuant to the concurrent financing, will entitle the holder to purchase one Common Share at a price of $0.15 until March 11, 2024.
NI 43-101 Technical Disclosure
The Qualified Person, as defined by National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators, for Cascada Silver Corp.'s exploration activities in Chile is Sergio Diaz, a resident of Santiago, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile, and is also registered in the Colegio de Geólogos de Chile under N° 315.
About Cascada Silver Corp.
Cascada is a mineral exploration company focused on silver and gold exploration in Latin America with four properties under option in Chile, including the historic Agua Amarga property where high-grade epithermal silver-bearing veins were mined during the 19th century. A historical article, published in 1812, reported 86 silver veins being mined at Agua Amarga with grades varying from 3,078 g/t to 41,035 g/t silver. Cascada's team of successful exploration professionals are dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.
On behalf of Cascada Silver Corp.,
Carl Hansen, CEO
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in Cascada's publicly filed documents.
Although Cascada has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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