Southern Silver Closes Final Tranche of Financing

http://www.newsfilecorp.com/release/29376/Southern-Silver-Closes-Final-Tranche-of-Financing#.WdLgnmjWzIU

Vancouver, British Columbia–(Newsfile Corp. – October 2, 2017) – Southern Silver Exploration Corp. (TSXV: SSV) (OTCQB: SSVFF) (FSE: SEG1) (“Southern Silver” or the “Company”) has closed the final tranche of its previously reported private placement by issuing 1,254,500 units at a price of $0.40 per unit for gross proceeds of $501,800.  Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.55 per common share.  Securities issued pursuant to this tranche of the private placement, including common shares and share purchase warrants, carry a legend restricting trading of the securities until January 30, 2018. In total, the Company has now closed 8,797,000 Units in three tranches for total gross proceeds of $3,581,800. The final closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Net proceeds from this private placement are intended to be used to contribute to the Company’s proportionate share (40%) of the costs associated with continuing exploration on the Cerro Las Minitas property near Durango, Mexico together with the Joint Venture partner of the Company, Electrum Global Holdings L.P. (60%).

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