Financial Matters

SLAM raised total proceeds of $335,680 by placement of 4,394,000 Units and 1,200,667 Flow-Through Units at a price of $0.06 per Unit and $0.06 per FT Unit.  The financing was in two tranches that closed July 27 and August 12.

The Company received payments of 300,000 CNX shares and $100,000 cash on closing the sale of the Superjack and Nash projects.  SLAM to receive an additional $375,000 in cash and/or Callinex shares over a 3-year period.   SLAM retains a 1% NSR royalty on Superjack and Nash subject to back of 0.5% NSR for $500,000.  The NSR will increase by 0.25% when zinc prices exceed US $1.25 per pound and an additional 0.25% when zinc rises above US $1.50 per pound.

In the first tranche of a $500,000 private placement announced April 19, 2016, the Company sold 400,000 Units and 1,065,000 FT Units at $0.05 each to raise $73,250 as announced May 11, 2016.  Each Unit is comprised of one common share and one warrant. Each FT Unit is comprised of one common share and one-half warrant. Each whole warrant entitles the holder to acquire one common share at a price of $0.06 for a period of 24 months, expiring on May 11, 2018. The Units are subject to a hold period and cannot be traded until September 12, 2016.

This follows a similar offering that closed March 21 when SLAM announced completion of $235,000 by placement of 2,200,000 Units and 2,500,000 FT Units.  Directors of the Company  subscribed for an aggregate 1,600,000 FT Units and 1,400,000 Units.

Visit www.sedar.com for access to Financial Statements and other corporate documents about SLAM.

 

 

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