VANCOUVER, Nov. 19, 2015 /CNW/ – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to report that the non-brokered private placement of $2.25 million announced November 4, 2015 was oversubscribed. The Company completed on November 19, 2015 the private placement of 16,665,143 units at a price of Cdn$0.15 per unit for gross proceeds of Cdn$2.5 million. Each unit consists of one common share and one‑half of one common share purchase warrant, with each whole warrant being exercisable for one common share of SilverCrest at a price of Cdn$0.20 per share for a term of 2 years. No finder’s fees were paid in connection with this placement.
Month: November 2015
Oroco Agrees to Extension of Closing Date
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 18, 2015) – Oroco Resource Corp. (TSX VENTURE:OCO) (“Oroco” or “the Company“) announces that, further to its news release of September 28, 2015, it has agreed with Goldgroup Mining Inc. (“Goldgroup“) to extend until January 16, 2016 the deadline for Goldgroup to enter into a formal debt repayment agreement with the Company. Goldgroup will pay US$25,000 to the Company in consideration for the extension. Remaining in place is the $100,000 break fee payable by Goldgroup if the formal debt payment agreement is not signed by the agreed deadline. In a related transaction, the Company will sell the 3 million shares of Goldgroup that it had agreed to sell to persons introduced by Goldgroup at a price of $0.06. After completion of the sale, the Company will hold 14,125,000 Goldgroup shares.
Starcore’s Altiplano Plant to Commence Processing Gold & Silver Concentrates
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 18, 2015) – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) announces that with the financing in place as announced in its news release of November 17, 2015, the Altiplano Gold & Silver processing plant in Matehuala, Mexico is ready to accept concentrates for processing.
“The Altiplano Plant will be processing gold and silver concentrates in the next two weeks,” said Robert Eadie, President and Chief Executive Officer of Starcore.
Evrim Announces $1.8 Million Non-Brokered Private Placement
Vancouver, British Columbia–(Newsfile Corp. – November 18, 2015) – Evrim Resources Corp. (TSXV: EVM) (“Evrim” or the “Company”) announces a 15,000,000 unit non-brokered private placement at $0.12 per unit for gross proceeds of $1.8 million. Each Unit will consist of one common share and one non-transferable share purchase warrant (a “Warrant”). Each Warrant is exercisable into one common share at a price $0.25 for five years from the date of closing (the “Closing Date”).
NSX Silver Announces Proposed Sale of Mexican Subsidiary
http://www.fscwire.com/newsrelease/nsx-silver-announces-proposed-sale-mexican-subsidiary
Bedford, Nova Scotia (FSCwire) – NSX Silver Inc. (TSXV:NSY) (“NSX Silver”) announces that it has entered into a binding letter of agreement with an arm’s-length purchaser whereby NSX Silver has agreed to sell the shares of its Mexican subsidiary company, Compania Minera Oso Blanco SA de CV (“CMOB”), to the purchaser. The binding letter of agreement provides that upon closing, the purchaser will be responsible for all of CMOB’s liabilities and that CMOB will grant to NSX Silver a 2% net smelter return royalty on any future mineral production from the eleven mining concessions that CMOB presently owns.
Defiance Appoints Michael Kinley as CFO
http://www.newsfilecorp.com/release/18129/Defiance-Appoints-Michael-Kinley-as-CFO#.VkyOl-SFPIU
Vancouver, British Columbia–(Newsfile Corp. – November 17, 2015) – Defiance Silver Corp (TSXV: DEF) (OTC: DNCVF) (“Defiance”) is pleased to announce the appointment of Michael Kinley to the position of Chief Financial Officer. Mr. Kinley has been the President of Winslow Associates Management & Communications Inc., a private consulting firm which provides professional services to junior public companies. Mr. Kinley is a Chartered Professional Account and has served as an officer and director for several public companies over the past twenty five years. Defiance also announces the resignation of Matthew Kavanagh as Chief Financial Officer.
Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 11 operating mines to date.
Electrum Completes Initial Ear-in on Southern Silver´s Cerro Las Minitas Project, Mexico; Exploration Update
Click to access article_11182015090115.pdf
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 18, 2015) –Southern Silver Exploration Corp. (TSX VENTURE:SSV) (FRANKFURT:SEG1) (SSE:SSVCL) (“Southern Silver”) reported today that Electrum Global Holdings L.P. (“Electrum”) has provided an additional tranche of funds to Southern Silver as operator and now has contributed a total of US$2.0 million and earned-in for an indirect 30% interest in the Cerro Las Minitas project in Durango, Mexico.
Minera Alamos Inc. Completes Plant Optimization and Site Selection
TORONTO, ONTARIO–(Marketwired – Nov. 17, 2015) – Minera Alamos Inc. (the “Company” or “Minera Alamos“) (TSX VENTURE:MAI) reported today that the Company’s engineering team has now completed the re-design and optimization of plans for the production plant at its 100% owned Los Verdes project in Sonora Mexico. The team has also provided new recommendations for the location of that plant. Minera Alamos is now working with these new specifications to source both new and used equipment appropriate for the project.
Almaden Minerals Ltd. Announces Closing of $3,380,000 Non-Brokered Private Placement
VANCOUVER, BC–(Marketwired – November 17, 2015) – Almaden Minerals Ltd. (“Almaden” or the “Company”) (TSX: AMM)(NYSE MKT: AAU) is pleased to announce that it has closed a non-brokered private placement involving the issuance of 4,506,666 units (“Units”) at $0.75 per Unit. Each Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant (each such whole share purchase warrant, a “Warrant”). Each Warrant allows the holder to purchase one common share of the Company at a price of $1.00 per share until November 17, 2017. Fees consisting of $44,000 in cash and warrants to purchase up to 35,200 common shares at a price of $0.77 per common share until November 17, 2017 were paid to finders on a portion of the placement.
Starcore Completes $4.5 Million Bond Offering
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 17, 2015) – Starcore International Mines Ltd. (TSX:SAM) (“Starcore” or the “Company”) has completed a private placement of secured bonds in the aggregate principal amount of CDN$4.5 million (the “Bonds”). The Bonds bear interest of 8% per annum, payable on maturity, and mature November 12, 2016. The Bonds will be secured by a charge over all of the Company’s assets that ranks pari passu with the existing debt obligations of the Company. The Company has agreed that it will not incur any additional debt obligations without first obtaining the consent of the holders of the Bonds, and will set aside any proceeds received from asset sales in excess of $250,000 towards repayment of the Bonds.
The proceeds from the sale of the Bonds will be used primarily for the purchase of concentrates for treatment at the Altiplano processing plant in Matehuala, Mexico owned by Starcore’s wholly-owned subsidiary, Cortez Gold Corp., and for mine and mill upgrades at Starcore’s San Martin Mine in Queretaro, Mexico.