- Silver Sands (SAND) has closed its over-subscribed, non-brokered private placement for gross proceeds of $1,345,000
- The company issued 13,450,000 units at a price of $0.10 per unit
- Proceeds will primarily be used for exploration expenditures on the Virginia Project in Argentina
- Silver Sands is a Canada-based mineral exploration company
- Silver Sands Resources Corp. (SAND) opened trading at C$0.11 per share
Silver Sands (SAND) has closed its oversubscribed, non-brokered private placement for gross proceeds of $1,345,000.
The company issued 13,450,000 units at a price of $0.10 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share at a price of C$0.15 for a period of 24 months following the date of issuance.
The warrants are subject to an acceleration clause.
The company paid finders’ fees totalling $45,600 and issued 456,000 finder’s warrants.
Proceeds will be used for exploration expenditures on the Virginia Project in Argentina and ongoing general working capital requirements.
The securities issued are subject to a four-month hold period.
Silver Sands is a Canada-based mineral exploration company focused on acquiring mineral property assets in mining-friendly jurisdictions.
Silver Sands Resources Corp. (SAND) opened trading at C$0.11 per share.
