Business
Santacruz Announces Upsizing of Previously Announced Private Placement to CDN$14.1 Million With A Lead Order From Palisades Goldcorp
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2021) -   Santacruz Silver Minin...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"Santacruz Announces Upsizing of Previously Announced Private Placement to CDN$14.1 Million With A Lead Order From Palisades GoldcorpVancouver, British Columbia--(Newsfile Corp. - March 18, 2021) -  Santacruz Silver Mining Ltd. (TSXV: SCZ) (the \"Company\" or \"Santacruz\") is pleased to announce that due to strong investor demand it has increased the size of its previously announced non-brokered private placement offering of units to CDN$14.1 million (the \"Private Placement\"), with a lead order from Palisades Goldcorp.The Private Placement will now consist of up to 47,000,000 units (the \"Units\") at a purchase price of CDN$0.30 per Unit, for gross proceeds to the Company of up to CDN$14,100,000. Each Unit will consist of one common share of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to acquire one common share of the Company at a price of CDN$0.45 per share for a period of 36 months following the issue of the Warrant.The Company may pay a finder's fee to arm's length finders in connection with the issue and sale of any or all of the securities under the Private Placement.The proceeds from the Private Placement are expected to be used by the Company to complement the acquisition of the Zimapan mine assets, to accelerate exploration activities at the Horizontes (Lomo del Toro) area and for general working capital and corporate purposes. All securities issued will be subject to a four month hold period, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada. Closing of the Private Placement is anticipated to occur in one or more tranches on or before March 26th 2021 and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.About Palisades Goldcorp Ltd.Palisades Goldcorp is Canada's resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and i...