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AbraSilver Announces Closing of C$20 Million Strategic Investments by Kinross Gold and Central Puerto
(TheNewswire) Toronto – TheNewswire - April 26, 2024 - AbraSilver ...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"AbraSilver Announces Closing of C$20 Million Strategic Investments by Kinross Gold and Central Puerto\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto –\n \n \n \n \n TheNewswire -\n \n \n \n \n April 26, 2024 - AbraSilver Resource Corp.\n(TSXV:ABRA\n \n \n \n \n )\n \n \n \n \n ;\n \n \n \n \n (\n \n \n \n \n OTC:ABBRF) (\"AbraSilver\" or the “Company”)\n \n \n \n is pleased to announce the completion of\nits previously announced non-brokered private placement (the\n“Private Placement”).  The Company issued 50,000,000 common\nshares (the “Common Shares”) at a price of $0.40 per share for\naggregate gross proceeds of C$20 million.  As a result, Kinross Gold\nCorporation (“Kinross”) (NYSE: KGC, TSX: K) and an affiliate of\nCentral Puerto SA (“Central Puerto”) (NYSE: CEPU) each own\napproximately 4.0% of the outstanding Common Shares on an undiluted\nbasis.\n \n \n \n \n All Common Shares issued in connection with the closing\nof the Private Placement are subject to a four-month-and one-day\nstatutory hold period in accordance with applicable securities\nlaws.\n \n \n \n \n The strategic investments by Kinross and Central Puerto\ncall for the formation of a five-person Technical Advisory Committee\ncomprised of two members from AbraSilver, two members from Kinross and\none member from Central Puerto. The Technical Advisory Committee will\nprovide advice and guidance on the upcoming Phase IV exploration\ncampaign and the future development plans for the Company’s flagship\nDiablillos project in Salta Province, Argentina (“Diablillos”).\n Separately a Strategic & Operational Committee will be formed,\ncomprised of two members from AbraSilver and two members from Central\nPuerto. The Strategic & Operational Committee will provide advice\nand guidance on strategic, operational, financial, tax,\ninfrastructure, government and regulatory affairs, among others\nmatters.\n \n \n \n \n Mr. John Miniotis, President and CEO of AbraSilver\ncommented: “We are very pleased to welcome both Kinross and Central\nPuerto as key shareholders and strategic partners in AbraSilver.\n With a strong balance sheet consisting of approximately C$25 million\nin cash...