Business
Prismo Metals Announces Closing of Financing and Appointment of New Director
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2022) - Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce that it has co
About this update from Prismo Metals Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 28, 2022) - Prismo Metals Inc. (CSE: PRIZ) (\"Prismo\" or the \"Company\") is pleased to announce that it has completed its previously announced financing for gross proceeds of $682,125 through the exercise of warrants by certain warrantholders, including a number of insiders. \"The proceeds received by Prismo will be primarily used to drill a minimum of 2,000 meters of HQ core at the Company's Verdes property in several holes to test mineralization at depth under the high-grade intercepts from previous drilling campaigns,\" said Dr. Craig Gibson, President and CEO of Prismo. He added: \"Two of these holes intersected high-grade mineralization similar in grade and width to the results of Vizsla Silver Corp. (TSXV: VZLA and NYSE: VZLA) in the Panuco district, whose property is contiguous to Palos Verdes. The best intercepts of these previous drilling campaigns were 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020). The Company believes these intercepts indicate the presence of a potentially large Ag-Au shoot of the type being defined by Vizsla Silver.\" Dr. Gibson concluded: \"We are currently in the process of selecting a drilling contractor and we expect drilling to begin in late-July pending reception of our environmental permit.\" The Company also expects to use some of the proceeds to finalize surface exploration work on the Los Pavitos property to advance to the drill ready stage, with expected drilling in the fall. Management of Prismo recently held an investor update call. The video of such investor update can be viewed on the Company's website at https://player.vimeo.com/video/721614600 Prismo also announced that Mr. Louis Doyle has been appointed to its Board of Directors. Mr. Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Mr. Doyle is the Executive Director of Québec Bourse. Between October 1999 and December 2015, he was the Vice-President, Montréal of the TSX Venture Exchange. As such, he was responsible for busi...