Santacruz Announces Increase to Equity Financing

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/569-tsx-venture/scz/21163-santacruz-announces-increase-to-equity-financing.html

VANCOUVER, June 16, 2016 /CNW/ – Santacruz Silver Mining Ltd. (“Santacruz” or the “Company”) (TSX.V:SCZ) reports that, in connection with its previously announced short form prospectus offering of units (“Units”) at a price of C$0.40 per Unit (the “Offering”), it has amended its agreement with Haywood Securities Inc. (“Haywood”), on behalf of a syndicate including M Partners Inc. (collectively, the “Agents”), to increase the amount of the Offering from 26,500,000 Units to up to 32,500,000 Units for aggregate gross proceeds of up to $13,000,000.

The number of additional Units that may be acquired under the option granted to the Agents (the “Agents’ Option”) has also been increased from 3,975,000 Units to 4,875,000 Units for aggregate proceeds of up to $1,950,000.  The Agents’ Option is exercisable, in whole or in part by Haywood, on behalf of the Agents, giving notice to the Company at any time up to 48 hours prior to the closing date.

 

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