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Nevada Silver Corporation Announces $7 Million Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - March 3, 2022) - Nevada Silver Corporation  (TSXV :NS...
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[{"type":"text","content":"Nevada Silver Corporation Announces $7 Million Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - March 3, 2022) - Nevada Silver Corporation (TSXV:NSC) (OTCQB: NVDSF)  (\"NSC\" or the \"Company\") is pleased to announce that it has engaged Canaccord Genuity Corp. (the \"Lead Agent\") on behalf of a syndicate of agents (collectively with the Lead Agent, the \"Agents\"), on a commercially reasonable efforts private placement basis for the sale of units (the \"Units\") of the Company at a price of $0.30 per Unit (the \"Offering Price\") for aggregate gross proceeds of up to $7,020,000 (the \"Offering\"). Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant entitles the holder thereof to purchase one Common Share of the Company (a \"Warrant Share\") at a price of $0.45 per share at any time prior to 5:00 p.m. (Toronto time) on the day that is 24 months from the Closing Date (as hereinafter defined), subject to adjustments in certain events. The Agents shall have the option, exercisable at any time prior to the closing of the Offering, to increase the size of the Offering by up to $3,000,000.The net proceeds of the Offering will be used to further exploration and development of the Corcoran Canyon silver-gold property (the \"Corcoran Project\"), to undertake drilling at the recently acquired Belmont silver property (the \"Belmont Project\"), both located in Nye County, Nevada, USA, and for working capital and general corporate purposes.In consideration of the services rendered by the Agents in connection with the Offering, the Company has agreed to pay to the Agents on the Closing Date a commission equal to 7% of the gross proceeds from the Offering (the \"Agents' Commission\"). In addition, the Company will issue the Agents warrants (the \"Agents' Warrants\") to acquire that number of Units which is equal to 7.0% of the number of Units sold under the Offering, at an exercise price equal to the Offering Price for a period of 24 months following the Closing Date. The Agents' Commission paid to the Agents in respect of Units purchased by subscribers on a president's list up to a maximum of $2,000,000 shall be reduced to 2.5% Agents' Commission and 2.5% Agents' Warrants. In additio...