Southern Silver Announces C$7 Million Private Placement Financing


Southern Silver Exploration Corp. (“Southern Silver” or the “Company”) announces that in conjunction with the previously announced Transaction (as defined below) to acquire an additional 60% indirect working interest (for a 100% indirect ownership) in the Company’s flagship Cerro Las Minitas project, it plans to issue a minimum of 35,000,000 subscription receipts of the Company (each, a “Subscription Receipt”) in a fully marketed private placement at a price of C$0.20 (the “Offering Price”) for gross proceeds of a minimum of C$7,000,000 (the “Offering”). Southern Silver has engaged Red Cloud Securities Inc. (“Red Cloud” or the “Lead Agent”), to act as Lead Agent and sole bookrunner as part of a syndicate of agents (collectively with Red Cloud, the “Agents”) for the sale of the Subscription Receipts of the Company on a “best efforts”, private placement basis.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s