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Regency Silver Corp. Completes Oversubscribed IPO and Announces Upcoming Drill Program at Dios Padre
Regency Silver Corp. Completes Oversubscribed IPO and Announces Upcoming Drill Program at...
About this update from Regency Silver Corp
[{"type":"text","content":"\n \n \n \n Regency Silver Corp. Completes Oversubscribed IPO and Announces Upcoming Drill Program at Dios Padre\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 VANCOUVER, BC\n \n \n ,\n \n \n May 6, 2022\n \n \n /CNW/ -\n \n Regency Silver Corp.\n \n (the \"\n \n Company\n \n \" or \"\n \n Regency\n \n \") (TSXV: RSMX) is pleased to announce that it has completed its initial public offering (the \"\n \n IPO\n \n \") of 12,000,000 common shares (each a \"\n \n Share\n \n \") at a price of\n \n $0.25\n \n per Share for gross proceeds of\n \n $3,000,000\n \n . The IPO was oversubscribed with 1,019,300 Shares sold pursuant to an over-allotment option for additional gross proceeds of\n \n $254,825\n \n .\n \n \n \n \n \n \n \n \n \n The net proceeds from the IPO will be used to carry out drilling on the Company's flagship project, the high grade Dios Padre Silver Property, located in\n \n Sonora, Mexico\n \n as well as option payments in respect of the El Tule Property, for general and administrative purposes and for working capital.\n \n \n The Dios Padre Property is the subject of a\n \n November 24, 2020\n \n , National Instrument 43-101 Technical Report titled \"Geological Report and Resource Estimate, Dios Padre Property, Municipality of\n \n Yecora, Sonora\n \n State,\n \n Mexico\n \n \". The Technical Report estimates an initial inferred resource of\n \n 9.5 million ounces of silver\n \n \n equivalent\n \n at a grade of 236 g/t (1.25 million tonnes at a grade of 236 g/t Ag Eq). Drilling at Dios Padre has returned intercepts of\n \n 1.9\n \n meters of\n \n 3220\n \n g/t silver within a broader interval of\n \n 32.5\n \n meters of\n \n 408\n \n g/t silver,\n \n 5.2\n \n meters of\n \n 1145\n \n g/t silver,\n \n 12.4\n \n meters of\n \n 558\n \n g/t silver and\n \n 28.8\n \n meters of\n \n 467.8\n \n g/t silver. The initial resource is from the area in and around the old mine workings only and Regency will be drilling into an adjacent large IP anomaly to test whether it represents a significant continuation of the mineraliz...