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Kuya Silver Announces Increase to Best Efforts Private Placement Financing
VANCOUVER, BC, July 28, 2022 /CNW/ - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce that
About this update from Kuya Silver Corporation
[{"type":"text","content":" VANCOUVER, BC, July 28, 2022 /CNW/ - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") is pleased to announce that it has agreed with Canaccord Genuity Corp. and Research Capital Corporation (the \"Co-Lead Agents\") on behalf of Red Cloud Securities Inc. (collectively, the \"Agents\"), to amend the engagement letter dated July 25, 2022 (the \"Engagement Letter\") in respect of the best efforts private placement financing of units (\"Units\") announced on July 26, 2022 (the \"Private Placement\"), to increase the size of the Private Placement. The Private Placement is now expected to consist of up to 6,120,000 Units at a price of $0.45 per Unit, for gross proceeds of up to $2,754,000, with the Agents having an option exercisable, in whole or in part, up to 48 hours prior to the closing date, to increase the size of the Private Placement by up to 15% of the amended Private Placement, being 918,000 Units for additional proceeds of up to $413,100. In all other respects, the Engagement Letter remains unchanged. Each Unit will consist of one (1) common share (each, a \"Common Share\") in the capital of the Company and one (1) transferrable common share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.70 per Common Share until the date that is five (5) years from the date of issuance. The Company intends to use the proceeds from the Private Placement for general working capital purposes. The Private Placement will be conducted in all provinces of Canada pursuant to private placement exemptions, in the United States to \"qualified institutional buyers\" pursuant to an exemption from registration under the United States Securities Act of 1933, as amended, and in such other jurisdictions as are agreed to by the Company and the Agents in accordance with applicable law. Closing is expected to occur on or about August 9, 2022 and is subject to certain conditions, including but not limited to the receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued under the Private Placement, including securities issuable on exercise thereof, will be subject to a hold period of four months and one day from the closing date in accordance with appli...