Business
GSilver Announces C$8.25M Private Placement
Endeavour Silver and Ocean Partners Provide Lead Orders THIS NEWS RELEASE IS NOT FOR DI...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"GSilver Announces C$8.25M Private PlacementEndeavour Silver and Ocean Partners Provide Lead OrdersTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / November 18, 2021 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce that it has arranged a non-brokered private placement offering (the \"Offering\") of 15,000,000 units (the \"Units\") at a price of $0.55 per Unit for estimated gross proceeds of C$8,250,000. Each Unit consists of one common share and one-half of a share purchase warrant, each whole warrant exercisable to purchase one common share at C$0.75 for a period, subject to acceleration, of two years after closing.Major Stakeholder Support:The Company would like to acknowledge the ongoing support of our largest shareholder, Endeavour Silver Corp. (\"Endeavour\"), which continues to provide assistance in the restarting of the El Cubo mine and mill operation, and which has subscribed for 5,750,000 Units (C$3,162,500) of the Offering. Endeavour, which currently owns 21,331,058 shares or approximately 10.37% of the Company prior to the Offering, will own 27,982,282 shares or approximately 12.63% of the Company after giving effect to the Offering (assuming the entire Offering is sold) and the issuance of 901,224 shares to Endeavour in connection with the Company's early payment of Endeavour's US$2.5 million promissory note as announced (click here) November 16, 2021.Additionally, the Company would like to thank Ocean Partners Holdings Ltd. (\"Ocean Partners\") for their subscription and support. As announced on (click here:) Sept. 23, 2021, Ocean Partners has contracted with GSilver to purchase all of our silver and gold concentrate for an 18-month term, commencing in October 2021. Ocean Partners has provided GSilver with a US$1.5M prepayment facility and are now subscribing for 1,000,000 Units (C$550K) of the Offering to become an equity shareholder of the Company.James Anderson, Chairman & CEO, stated, \"The continued financial backing of our largest shareholder and of our metals trading service partner is a major endorsement regarding the quality of our projects and the ability of our management team to execute. We consider it prudent at this time to ensure that GSilver has ...