Source: Summa Silver.
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  • Summa Silver Corp. (SSVR) has upsized its previously announced brokered private placement offering for gross proceeds of up to $10 million
  • Each unit is exercisable for one common share and one-half of a common share purchase warrant
  • Participants in the offering are expected to include Eric Sprott and First Majestic Silver Corp.
  • The net proceeds will be used for exploration, corporate development, and general working capital purposes
  • Summa Silver Corp. (SSVR) is down 5.71 per cent, trading at $0.99 per share at 3:43 p.m. EST.

Summa Silver Corp. (SSVR) has upsized its brokered private placement offering for gross proceeds of up to $10 million.

Each unit is exercisable for one common share and one-half of a common share purchase warrant.

Each whole warrant shall be exercisable to acquire one common share at a price of $1.20 per warrant share for 36 after the closing of the offering.

Participants in the offering are expected to include Eric Sprott and First Majestic Silver Corp.

The offering is being conducted by Research Capital Corporation and Eventus Capital Corp. as co-lead agents.

Summa Silver has granted the agents an over-allotment option, exercisable up to 48 hours before the closing date of the offering.

Summa Silver has agreed to pay a cash commission equal to 6 per cent of the gross proceeds of the offering to the agents.

The net proceeds from the offering will be used for exploration, corporate development, and general working capital purposes.

The offering is expected to close by February 10th.

Summa Silver Corp. (SSVR) is down 5.71 per cent, trading at $0.99 per share at 3:43 p.m. EST.

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