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Due to Strong Demand Abraplata Closes Additional $750,000 Financing
(via TheNewswire) VANCOUVER, B.C. / TheNewswire / May 16, 2017 - AbraPlata Resource Corp...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"Due to Strong Demand Abraplata Closes Additional $750,000 Financing(via TheNewswire)\n\n \nVANCOUVER, B.C. / TheNewswire / May 16, 2017 - AbraPlata Resource Corp. (TSX-V: ABRA) (\"AbraPlata\" or the \"Company\") is pleased to announce it has completed, on a non-brokered basis, an offering of 2,585,967 common shares of the Company by way of a private placement at a price of $0.30 per share for total gross proceeds of $775,790 (the \"Financing\"). Proceeds from the private placement will be used for property exploration and working capital.\n\n\n \nIn connection with the Financing, the Company will pay to certain arm's length parties a finder's fee comprised of (i) a cash fee equal to eight percent (8%) of the gross proceeds received from subscribers sourced by the finders, and (ii) share purchase warrants exercisable to acquire up to 164,213 common shares of the Company (the \"Finder Warrants\"). The Finder Warrants will be exercisable for a period of one year from the date of issuance at a price of (i) $0.30 per common share during the first six months after a Finder Warrant is issued, and (ii) $0.50 per common share for the following six months thereafter.\n\n \n \nPursuant to Silver Standard Resources Inc.'s (\"Silver Standard\") contractual anti-dilution right to maintain a 19.9% equity interest in the capital of the Company, under the second amended and restated share purchase agreement dated March 21, 2017 (the \"SSR Agreement\"), 642,456 common shares will be issued to Silver Standard. A copy of the SSR Agreement is available from the Company's profile on SEDAR (www.sedar.com). \n\n \n \nThe private placement is subject to regulatory approval. In compliance with Canadian securities laws and the rules of the TSX Venture Exchange, all securities issued in connection with the Financing will be subject to a hold period of four (4) months following the date hereof.\n\n \n \nAbout AbraPlata Resource Corp.\n\n\n \nAbraplata is a junior mining exploration company focused on delivering shareholder returns by unlocking mineral value in Argentina. The Company's experienced management team has assembled an outstanding portfolio of gold, silver and copper exploration assets, and is focused on advancing its flagship Diablillos property, with an indicated resource of 81.3m oz Ag and 755k oz Au, through the various stages of feasibility. ...