Kootenay closes oversubscribed non-brokered private placement

equities Canada  |

VANCOUVER, Feb. 2, 2015Kootenay Silver Inc. ("Kootenay") ($KTN:CA) is pleased to announce that, further to its press releases dated December 10 and 23, 2014, it has closed the second and final tranche of a non-brokered private placement (the "Private Placement") of units (the "Units") with aggregate oversubscribed total gross proceeds of $1,577,875.

Kootenay has today issued a final 2,388,214 Units at a purchase price of $0.35 per Unit for total additional proceeds of $835,875 and aggregate total gross proceeds of $1,577,875 under the Private Placement.  On December 23, 2014, Kootenay closed the initial tranche of the Private Placement issuing 2,120,000 Units for gross proceeds of $742,000.  Each Unit consists of one common share in the capital of Kootenay (each, a "Common Share") and one transferable common share purchase warrant (each, a "Warrant") of Kootenay. Each Warrant issued under this portion of the Private Placement entitles the holder to acquire one Common Share at an exercise price of $0.60 until February 2, 2017.  All securities issued today in connection with the Private Placement are subject to a hold period, which expires on June 3, 2015. Cash finder's fees to arm's length parties totaling $27,315 will be paid on this tranche of the Private Placement.

Kootenay intends to use the net proceeds from the Private Placement to finance additional work on Kootenay's Promontorio property, which includes the new La Negra Breccia discovery, its other properties and for general working capital.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

La Negra Silver Discovery

The La Negra Breccia discovery is situated approximately 6.5 kms north of Kootenay's flagship Promontorio Silver Resource in Sonora, Mexico and is contained within a 25 x 15 km mineralized corridor, the 'Promontorio Mineral Belt.' The upcoming Phase II drill program on La Negra follows a successful Phase I drill program, which returned significant and consistent intervals of high grade, widespread silver mineralization extending from surface to depth, confirming a substantial new silver discovery. (See news releases, 'Drill Results' Oct. 15, 2014, Nov. 26, 2014 and Dec 3, 2014 for more details).  The Phase I drill program was led by a successful trenching and surface sampling program that confirmed extensive silver mineralization over a large 100 to 200 meters by 500 meters area on surface. (See news releases from May 28th and June 5th, 2014 for more details).

To View Full Results of Sampling and drill Program Visit: www.kootenaysilver.com

The foregoing geological disclosure has been reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.


Kootenay Silver Inc. is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. Kootenay's objective is to develop near term discoveries and long-term sustainable growth. Its management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution.

SOURCE Kootenay Silver Inc.

For further information: James McDonald, CEO and President at 403-238-6986; Ken Berry, Chairman at 604-601-5652; 1-888-601-5650, or visit: www.kootenaysilver.com


DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer



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