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ABRASILVER ANNOUNCES CLOSING OF $28.5 MILLION PRIVATE PLACEMENT, COMPLETING TOTAL $58.5 MILLION IN FINANCINGS
ABRASILVER ANNOUNCES CLOSING OF $28.5 MILLION PRIVATE PLACEMENT, COMPLETING TOTAL $58.5 MILLION I...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\n ABRASILVER ANNOUNCES CLOSING OF $28.5 MILLION PRIVATE PLACEMENT, COMPLETING TOTAL $58.5 MILLION IN FINANCINGS\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n Feb. 12, 2025\n \n\n /CNW/ - AbraSilver Resource Corp. (TSXV: ABRA) (\"\n \n AbraSilver\n \n \" or the \"\n \n Company\n \n \") is pleased to announce the successful closing of its previously announced private placement (the \"\n \n Offering\n \n \") of 11,193,565 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price of\n \n $2.55\n \n per Common Share (the \"\n \n Issue Price\n \n \") for aggregate gross proceeds of\n \n $28,543,591\n \n . This marks the completion of a total of approximately\n \n $58.5 million\n \n in recent financings, including the previously announced\n \n $30 million\n \n public offering of Common Shares.\n \n\n\n\n\n\n\n\n\n In connection with the Offering, the Company issued 10,094,697 Common Shares to an affiliate of Central Puerto S.A. (\"\n \n Central Puerto\n \n \") and 1,098,868 Common Shares to Kinross Gold Corporation, upon the exercise of certain participation rights held by such persons. In connection with the Offering, the Company has also agreed to pay an arm's length finder a cash commission of up to 3.0% of the proceeds raised from Central Puerto. The Common Shares sold pursuant to the Offering are subject to a hold period of four months plus one day from the closing date of the Offering.\n \n\n\n John Miniotis\n \n , President and CEO, commented \"The completion of our financings significantly strengthen our balance sheet and allow us to accelerate the advancement of our flagship Diablillos silver-gold project. The strong support from key strategic investors, including Central Puerto and\n \n Kinross\n \n , as well as participation from institutional investors, underscores the high level of confidence in our project's potential. With\n \n...