Business
Aftermath Silver Announces a $1.5 million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2020) - Aftermath Silver Ltd.   (T...
About this update from Aftermath Silver Ltd.
[{"type":"text","content":"Aftermath Silver Announces a $1.5 million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 4, 2020) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: FLMZF) (the \"Company\" or \"Aftermath\") is pleased to announce that it has entered into an agreement with a syndicate led by Palisades Goldcorp Ltd. (the \"Investors\"), pursuant to which the Investors have agreed to purchase, on a binding basis, 7,500,000 units (the \"Units\") of the Company at the price of $0.20 per Unit for gross proceeds of $1,500,000. The Units are being offered on a non-brokered private placement basis. Each unit will include one common share and one-half non-transferable common share purchase warrant. Each warrant will entitle the Investors to purchase, for a period of 36 months from the date of issue, one additional common share of the Company at an exercise price of $0.25 per share. No finders' fees are payable in connection to the Private Placement.The Company intends to use the net proceeds for business development activities, maintenance costs at the Challacollo and Cachinal, Silver-Gold projects in Chile and for general working capital. The private placement is subject to the approval of the TSX Venture Exchange and other applicable securities regulatory bodies, and the securities will be subject to a four month and one day hold period from the closing date, under Canadian securities laws.Executive Chairman, Michael Williams commented, \"We are happy to welcome Palisades Goldcorp as a significant shareholder of Aftermath Silver. Given our pure silver focus and current portfolio of projects we are a good fit for their investment criteria.\"About Aftermath Silver LtdAftermath Silver Ltd is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on silver in Chile. The Company is focused of growth through the discovery and acquisition of quality projects in stable jurisdictions. Aftermath continues to seek new opportunities to capitalize on the current silver environment.About Palisades GoldcorpPalisades Goldcorp is Canada's newest resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational ...