U.S. Silver Issues Warrant Acceleration Notice to Holders from September 2010 Private Placement
U.S. Silver Corporation (TSX-V: USA, US OTCQX: USSIF, Frankfurt: QE2)
('US Silver? or the 'Company?) announces that it has issued today a
warrant acceleration notice to all warrant holders from a bought deal
private placement that closed on September 29, 2010, subject to the
terms, covenants, conditions and provisions of the September 29, 2010
warrant indenture. The Company has also issued an acceleration notice to
all holders of broker options issued on September 29, 2010. As the
common shares of US Silver have traded above $0.45 for twenty
consecutive trading days since June 29, 2011, US Silver has provided
notice to all warrant and broker option holders that the warrants and
broker options will expire at 5:00 pm (Toronto time) on August 29, 2011,
being no less than 30 days following the date of the acceleration
notice. The Company originally issued 13,282,500 warrants exercisable at
a price of $0.35 and 1,593,900 broker options exercisable at $0.26 as
part of the bought deal private placement.
ABOUT U.S. SILVER CORPORATION
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates
the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in
Shoshone County, Idaho, with the Galena mine being the second most
prolific silver mine in US history. Total silver production from U.S.
Silver's mining complex has exceeded 217 million ounces of silver
production since 1953. U.S. Silver controls a land package now totaling
approximately 14,000 acres in the heart of the Coeur d'Alene Mining
District. U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its extensive
Silver Valley holdings in the Coeur d'Alene Mining District.
Neither 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.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ materially
from results suggested in any forward-looking statements. The Company
assumes no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those reflected
in the forward looking-statements unless and until required by
securities laws applicable to the Company. Additional information
identifying risks and uncertainties is contained in filings by the
Company with the Canadian securities regulators, which filings are
available at www.sedar.com.
US Silver Corporation
Tom Parker, 208-752-0400
CEO
or
Chris
Hopkins, 416-907-9539
CFO
or
TMX Equicom
Patrick
Piette, 416-815-0700 x267