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AbraSilver Announces C$20 Million in Strategic Investments by Kinross Gold and Central Puerto and Formation of a Regional Partnership in Argentina
AbraSilver Announces C$20 Million in Strategic Investments by Kinross Gold and Central Puerto and...
About this update from Kinross Gold Corporation
[{"type":"text","content":"\n \n \n \n AbraSilver Announces C$20 Million in Strategic Investments by Kinross Gold and Central Puerto and Formation of a Regional Partnership in Argentina\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 22, 2024\n \n \n /CNW/ -\n \n AbraSilver Resource Corp.\n \n (TSXV: ABRA) (OTCQX: ABBRF)\n \n (\"AbraSilver\" or the \"Company\")\n \n is pleased to announce that it has entered into subscription agreements in respect of a strategic\n \n C$20 million\n \n non-brokered private placement of AbraSilver common shares (\"Common Shares\") with Kinross Gold Corporation (\"Kinross\") (NYSE: KGC) (TSX: K) and an affiliate of Central Puerto SA (\"Central Puerto\") (NYSE: CEPU) at a subscription price of\n \n C$0.40\n \n per Common Share (the \"Private Placement\").\n \n \n \n Highlights\n \n \n \n \n Each of\n \n Kinross\n \n and Central Puerto have entered into a subscription agreement with AbraSilver pursuant to which they will each invest\n \n C$10 million\n \n , resulting in aggregate gross proceeds of\n \n C$20 million\n \n to the Company.\n \n \n \n \n The Company will issue an aggregate of 50,000,000 Common Shares at a subscription price of\n \n C$0.40\n \n per Common Share, representing approximately a 3% premium to the closing price of the Common Shares on\n \n April 19, 2024\n \n .\n \n \n \n \n Upon closing of the Private Placement,\n \n Kinross\n \n and Central Puerto will each own approximately 4.0% of the outstanding Common Shares on an undiluted basis.\n \n \n \n \n Following completion of the Private Placement, the Company plans to consolidate its Common Shares, on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares.\n \n \n \n \n Upon closing of the Private Placement, AbraSilver will enter into an Investor Rights Agreement with each of\n \n Kinross\n \n and Central Puerto that includes, among other things, standard anti-dilution and equity participation rights and the formation of a Technical Advisory Committee and a Strategic &...