Silver Sands announces private placement and debt settlement transactions

Silver Sands Resources Corp. (CSE: SAND) (OTCQB: SSRSF) announced a private placement financing of up to 6,500,000 units priced at $0.075 per unit for gross proceeds of up to $487,500. Each unit consists of one common share and one-half of a transferable share purchase warrant exercisable at $0.15 per share for 24 months from closing.

The Vancouver-based mineral exploration company also entered into debt settlement agreements with two directors, its corporate secretary, and one consultant to settle CAD$177,375 in indebtedness. The settlement involves issuing 2,365,000 units at a deemed price of $0.075 per unit, with the same warrant terms as the private placement.

The company stated it chose to settle the debt with shares and warrants to preserve cash for operations. Finder's fees of 7% in cash and warrants may be payable on a portion of the private placement.

Both transactions are subject to Canadian Securities Exchange approval. Upon completion, 8,865,000 common shares and 4,432,500 warrants will be subject to a four-month and one-day hold period. The company expects to close both transactions on or before February 10, 2026.

Silver Sands focuses on mineral exploration and acquisition of mineral property assets in mining-friendly jurisdictions, with an objective to locate and develop precious and base metal properties.

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