Southern Silver Closes Previously Announced Private Placement

Southern_15092020

Southern Silver Exploration Corp. (TSX.V: SSV) (the “Company” or “Southern Silver”) reports that it has closed the recently announced non-brokered private placement for 1,200,000 units (“Units”) at a price of $0.38 per Unit for gross proceeds of $456,000. Each Unit consists of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.50 per share. The common shares and warrants carry a legend restricting trading of the securities until January 12, 2021. Net proceeds from the private placement will be used for working capital.  The private placement is subject to TSX Venture Exchange approval.

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