- Due to significant demand, Southern Silver Exploration Corp. (SSV) has announced increases to two recently announced private placements just one day after the offerings were announced
- The company is increasing its bought deal private placement with Red Cloud Securities to $9 million and its non-brokered private placement to $3 million
- The proceeds from both offerings will be used for exploration and advancement at the Cerro Las Minitas silver-lead-zinc project in Mexico
- Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits
- Southern Silver Exploration Corp. (SSV) is down 8.62 per cent on the day, trading at $0.53 per share
Southern Silver Exploration Corp. (SSV) has announced increases to two recently announced private placements just one day after the offerings were announced.
The company has amended its bought deal private placement with Red Cloud Securities Inc. from $7 million to $9 million. Under the agreement, Red Cloud Securities will purchase 18 million units at $0.50 per unit from Southern Silver.
Additionally, the company is increasing its non-brokered private placement to 6 million units for proceeds of up to $3 million, also at $0.50 per unit.
Each unit will be made up of one common share and half of one warrant, with each warrant being exercisable for one common share of the company at $0.75 per share for two years after the closing date.
The proceeds from both offerings will be used for exploration and advancement at the Cerro Las Minitas silver-lead-zinc project in Mexico.
The project is located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits.
The offerings are expected to close by June 14, 2021, subject to all necessary approvals.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits.
The company enhances the value of its properties by way of third-party option or joint venture agreements.
Southern Silver Exploration Corp. (SSV) is down 8.62 per cent on the day, trading at $0.53 per share as of 10:01 am ET.
