Business
Kuya Silver Announces Closing of Second and Final Tranche of Non-Brokered Private Placement Pursuant to the Listed Issuer Exemption
Toronto, Ontario--(Newsfile Corp. - December 21, 2023) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") announc
About this update from Kuya Silver Corporation
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - December 21, 2023) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") announces it has closed the second tranche (\"Second Tranche\") of a non-brokered private placement (the \"Offering\") pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the \"LIFE Exemption\"), by issuing 3,572,000 units (each, a \"Unit\") at a price of $0.25 per Unit for aggregate gross proceeds of $893,000. Collectively under the Offering, the Company issued 13,921,000 Units for aggregate gross proceeds of $3,480,250. The Company filed a Form 45-106F19 offering document (the \"Offering Document\") on November 9, 2023 related to the Offering, which may be accessed under Kuya Silver's profile at www.sedarplus.ca and on the Company's website https://www.kuyasilver.com. Pursuant to the Offering, each Unit consisted of one common share in the capital of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one additional Common Share at an exercise price of CAD$0.37 per Common Share for a period of 24 months from the date of issuance. The Warrants are subject to accelerated expiration whereby if the closing trading price of the Common Shares on the Canadian Securities Exchange (the \"Exchange\"), or such other stock exchange where the majority of the trading volume occurs, for any period of 15 consecutive trading days equals or exceeds CAD$0.50, the Company may, upon issuing a press release (the \"Acceleration Notice\"), accelerate the expiry date of the Warrants to the date that is 15 days following the date of the Acceleration Notice. If the Warrants are not exercised by the accelerated expiry date, the Warrants will expire and be of no further force or effect. The Units issued in the Offering are not subject to any statutory hold period under applicable Canadian securities laws, subject to limitations prescribed by the LIFE Exemption. In connection with the Second Tranche, the Company paid fees to qualified parties (each, a \"Finder\") in accordance with the policies of the Exchange, being a cash commission of $3,750, which was 6.0% on total proceeds received from subscribers introduced to the Company by each ...