Southern Silver Announces Brokered Private Placement With Gravitas Securities

http://www.southernsilverexploration.com/en/news/162/southern-silver-announces-brokered-private-placement-with-gravitas-securities.php

Southern Silver Exploration Corp. (“Southern” or “the Company”) has entered into an agreement with Gravitas Securities Inc. (“GSI” or the “Lead Agent”) and such other co-agents (collectively, the “Agents”) as may be agreed to by the Lead Agent for the Company’s $5,000,000 Private Placement. The Company plans to issue (the “Offering”) up to 12,500,000 units (“Units”) in a brokered private placement at a price of $0.40 per Unit (the “Offering Price”). Each Unit will consist of one common share and one transferable share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.55 per share.

Southern  has  arranged  an  initial  subscription  from  Electrum  Global  Holdings  L.P. (“Electrum”) to purchase 36% of the total Units sold in this Offering.

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