VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 28, 2014) - El Tigre Silver Corp. ("El Tigre" or the "Company") (TSX VENTURE:ELS)(FRANKFURT:5RT)(OTCQX:EGRTF) is pleased to announce it has entered an agreement with Wealthcorp LLC ("Wealthcorp") to provide financial advisory consulting services to assist in the efforts of capital raising related to operational and working capital, designed to fully realize El Tigre's long term vision and expand shareholder value. The funds raised from any potential financing will be used to complete the construction of the production facility and to provide funding to continue the Company's planned exploration program to expand the initial resource. The initial resource and the production facility are both outlined in a NI 43-101 Technical Report Preliminary Feasibility Study for the El Tigre Silver Project Sonora, Mexico filed on SEDAR August 15, 2013.
Wealthcorp is a private financial services corporation whose senior management have over 40 years of combined experience within private equity and capital markets globally, business and corporate development and portfolio / asset management. Additionally, Wealthcorp executives bring a broad range of expertise and proven track record within the energy, defense, commodities, healthcare, biotech and advanced materials sectors.
El Tigre has agreed to compensate Wealthcorp a monthly work fee of US$20,000, a cash success fee of 1.5% and compensation warrants equal to 5% of the aggregate number of shares or units sold under any financing Transaction in excess of $5million upon closing of the Transaction, the Compensation Warrants will have identical terms to that of the warrants issued in connection with the financing Transaction. The cash success fee is only payable for any amount exceeding $5 million.
About El Tigre
The Company, through its subsidiaries, holds the rights to 100% of nine mineral concessions, eight comprising of 215 square kilometres located in north-eastern Sonora, Mexico (the "El Tigre Property"), and approximately 90 kilometres south of the US-Mexico border. El Tigre also holds one additional 32 hectare claim separate from the El Tigre Property. A NI 43-101Technical Report Preliminary Feasibility Study has been prepared for the El Tigre Silver Project and can be found on the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.eltigresilvercorp.com.
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include future plans to raise additional capital. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Specifically, there is no certainty that the engagement of Wealthcorp LLC will result in a future financing transaction for the Company. Additional factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. 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 press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
El Tigre Silver Corp.Stuart Ross
President and CEO
email@example.comEl Tigre Silver Corp.Rob Grace
Source: El Tigre Silver Corp.