Business
Kuya Silver Announces Closing of Oversubscribed Flow-Through Financing to Fund Exploration at the Silver Kings Project, Ontario, Canada
Toronto, Ontario--(Newsfile Corp. - June 20, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") announces i
About this update from Kuya Silver Corporation
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 20, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") announces it has closed its non-brokered flow-through private placement with gross proceeds raised of CDN$2,500,160 (the \"Offering\"). Under the Offering, the Company issued 5,208,667 flow-through units (each, a \"FT Unit\") at a price of CDN$0.48 per FT Unit. Each FT Unit is comprised of one (1) common share in the capital of the Company that qualifies as a \"flow-through share\" for the purposes of the Income Tax Act (Canada) (each, a \"FT Common Share\") and one-half of one (1/2) non-transferable common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to purchase one (1) non-flow-through common share in the capital of the Company (each a \"Common Share\") at price of CDN$0.64 per Common Share until June 19, 2026. The proceeds from the Offering will be used for expenditures that qualify as Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), to carry out exploration programs on the Company's Canadian properties. In connection with the Offering, the Company paid finder's fees to qualified non-related parties, in accordance with the policies of the Canadian Securities Exchange (the \"Exchange\"), including a cash commission totalling CDN$34,809.61, equal to 6% of proceeds raised, and an equity commission valued at CDN$115,200, equal to 6% of proceeds raised, settled by the issuance of 267,907 Common Shares at a deemed price per share of CDN$0.43. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring October 20, 2024, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. About Kuya Silver Corporation Kuya Silver is a Canadian‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada. For more information, please contact: David Stein, President and Chief Executive OfficerTelephone: (604) 398‐[email protected] Reader Advisory This news release contains statements that constitute \"forward-looking information,\" including statements regarding the plans, intentions, beliefs, and...