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Southern Silver Announces Bought Deal LIFE Private Placement for Gross Proceeds of C$5.0 Million
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Southern Silver Exploration C...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"Southern Silver Announces Bought Deal LIFE Private Placement for Gross Proceeds of C$5.0 MillionVancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Southern Silver Exploration Corp. (TSXV: SSV) (the \"Company\" or \"Southern Silver\") reports that it has entered into an agreement with Red Cloud Securities Inc. (\"Red Cloud\"), acting as sole underwriter and bookrunner, pursuant to which Red Cloud has agreed to purchase for resale 10,000,000 common shares in the capital of the Company (each, a \"Common Share\") at a price of C$0.50 per Common Share (the \"Offering Price\") on a \"bought deal\" basis in a private placement for gross proceeds of approximately C$5,000,000 (the \"Underwritten Offering\"). The Company will grant to Red Cloud an option, exercisable up to 48 hours prior to the Closing Date, to purchase for resale up to an additional 2,000,000 Common Shares at the Offering Price for additional gross proceeds of up to approximately C$1,000,000 (the \"Over-Allotment Option\"). The Underwritten Offering and the securities issuable upon exercise of the Over-Allotment Option shall be collectively referred to as the \"Offering\". The Company intends to use the net proceeds from the Offering for the advancement of the Cerro Las Minitas project located in the state of Durango, Mexico as well as for working capital and general corporate purposes, as is more fully described in the Offering Document (as defined herein). Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Common Shares will be offered for sale to purchasers resident in the provinces of British Columbia, Alberta, Manitoba, Saskatchewan and Ontario pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\"). The Common Share are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Common Shares may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of t...