GR Silver Mining Completes $9,153,000 Bought Deal Financing

GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (“GR Silver Mining” or the “Company”) – is pleased to announce that it has completed its previously announced bought deal private placement (the “Offering”) of an aggregate of 33,900,000 units of the Company (the “Units”) at a price of $0.27 per Unit (the “Issue Price”) for gross proceeds of $9,153,000, which included the exercise of the underwriters’ option in full. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $0.40 per share for a period of 12 months from the closing date of the Offering.

The Offering was led by Beacon Securities Limited as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Raymond James Ltd., Canaccord Genuity Corp., and Pollitt & Co. Inc. (collectively, the “Underwriters”).

The Company intends to use the net proceeds of the Offering to fund resource expansion and drilling at the Plomosas and San Marcial projects in Sinaloa, Mexico, and for working capital and general corporate purposes.

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