2022-08-09 | CSE:KUYA | Press release

Vancouver, British Columbia–(Newsfile Corp. – August 9, 2022) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the “Company” Where “Kuya Silver“) is pleased to announce that it has completed its “best efforts” private placement of Company units (“Units“) at a price of $0.45 per unit (the “Private placement“), which was led by Corp. Canaccord Genuity and Research Capital Corporation (the “Principal co-agents“) and including Red Cloud Securities Inc. (collectively, the “Officers“). The Company sold a total of 5,718,000 Units, which includes the full exercise of the Agents’ option to purchase up to an additional 15% of the Private Placement Units, for aggregate gross proceeds of $2,573,100. Concurrently with the private placement, the Company sold a total of 1,320,000 Units in a non-brokered private placement on the same terms as the Private Placement, for additional gross proceeds of $594,000 ( the “NBPP“). The Company intends to use the proceeds of the issue of the Units for general working capital purposes.

Each Unit consists of one ordinary share of the Company (a “Ordinary share“) and one transferable common share purchase warrant (each, a “To guarantee“). Each warrant entitles its holder to purchase one common share at an exercise price of $0.70 for a period of five years following the closing of the private placement.

In consideration for the services rendered by the Agents, the Company paid the Agents cash fees totaling $190,026, being 6.0% of the total gross proceeds from the sale of the Units, and issued to the Agents 422,280 non-transferable broker warrants (each, a “Broker mandate“), corresponding to 6.0% of the number of units sold under the private placement and the PPNB. Each brokerage warrant entitles its holder to purchase one common share at an exercise price of $0.45 for a period of two years from the date hereof.

The Private Placement and the NBPP were made in all provinces of Canada pursuant to private placement exemptions, in the United States to “qualified institutional purchasers” and “accredited investors” pursuant to registration exemptions under the United States Securities Act of 1933, as amended. , and in such other jurisdictions as the Company and the Agents agree in accordance with applicable law. Securities issued pursuant to the Private Placement and GNI are subject to a hold period of four months from closing in accordance with applicable securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the securities, in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration under US federal and state securities laws or applicable exemption. of these registration requirements in the United States.

About Kuya Silver Corporation

Kuya Silver is a Canadian-based mining exploration and development company focused on acquiring, exploring and advancing precious metals assets in Peru and Canada.

For more information please contact:

David Stein, President and CEO

Phone: (604) 398-4493

[email protected]

www.kuyasilver.com

Notice to readers

This press release contains statements that constitute “forward-looking information”, including statements regarding the current plans, intentions, beliefs and expectations of the Company, its directors or officers regarding the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, ” shall”, “next”, “propose” and similar expressions, with respect to the Company or its management, are intended to identify such forward-looking information. Without limiting the generality of the foregoing statements, the proposed use of proceeds from the sale of Units is forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those described in the forward-looking information due to various factors, including but not limited to, fluctuations in market prices, the success of the Company’s operations, the continued availability of capital and financing, and general economic, market and market conditions. business. There can be no assurance that such forward-looking information will prove to be accurate and, therefore, readers are urged to rely on their own assessment of risks and uncertainties. The Company undertakes no obligation to update any forward-looking information except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF US SECURITIES LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133257

Luisa D. Fuller