VANCOUVER, BC, Oct. 7, 2022
/CNW/ - Regency Silver Corp. ("Regency Silver" or the
"Company"), (TSXV: RSMX) (OTCQB: RSMXF) is pleased to announce that
it has entered into an option exercise agreement (the "Agreement")
with Minera Pena Blanca, S.A. de
C.V. ("Minera Pena") pursuant to which Minera Pena has agreed to waive the last
exploration expenditure of US$250,000
required to exercise the option for a 100% interest in the Dios
Padre property in Mexico.
Consideration for the early exercise is the issuance of 300,000
common shares in the capital of the Company (the "Common Shares")
at a deemed price of $0.245 per
share. The completion of the transactions contemplated by the
Agreement remains subject to all regulatory approvals, including
the approval of the TSX Venture Exchange (the "Exchange") which
must be obtained by October 20, 2022.
The Common Shares to be issued in connection with the Agreement
will be subject to a four month hold period from the date of issue
in accordance with applicable securities legislation.
The Company is also pleased to announce that the Exchange has
accepted the Company's engagement of M Partners Inc. in accordance
with the terms and conditions of an Engagement Letter dated
July 25, 2022 and pursuant to which M
Partners Inc. will provide the Company with ongoing advisory
services. In consideration of the services, the Company has agreed
to issue M Partners Inc. an aggregate of 500,000 Common Shares at a
deemed price of $0.10 per share. The
Common Shares will be subject to a four month hold period from the
date of issue in accordance with applicable securities
legislation.
ABOUT REGENCY SILVER
CORP.
Regency Silver is a silver and gold exploration company focused
on the Americas. Regency Silver is led by a team of experienced
professionals with expertise in both exploration and production.
Regency Silver's flagship project is the Dios Padre silver project
in Sonora, Mexico.
For further details about the Company please visit
www.Regency-Silver.com.
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 release.
Cautionary Note Regarding
Forward-Looking Statements:
This news release includes certain forward-looking statements
and forward-looking information (together, "forward-looking
statements"). There can be no assurance that such statements
will prove to be accurate and actual results and future events may
vary from those anticipated in such statements. Important
risk factors that could cause actual results to differ materially
from the Company's plans or expectations include the risk that
Exchange acceptance of the Agreement, including the issuance of the
Common Shares, will not be obtained, regulatory changes,
fundraising risks, and risks associated with mineral exploration,
including the risk that actual results of exploration will be
different from those expected by management. The
forward-looking statements in this news release were developed
based on the expectations of management, including that Exchange
acceptance for the proposed transaction will be obtained,
conditions will be satisfied, required fundraising will be
completed and the other risks described above will not
materialize. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable securities
legislation.
SOURCE Regency Silver Corp