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Southern Silver Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$15.0 Million
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Southern Silver Exploration Corp...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"Southern Silver Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$15.0 MillionVancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Southern Silver Exploration Corp. (TSXV: SSV) (the \"Company\" or \"Southern Silver\") is pleased to report the closing of its previously announced \"bought deal\" private placement (the \"Offering\") for gross proceeds of C$15,000,000.39, which includes the exercise in full of the over-allotment option. Pursuant to the Offering, the Company sold 55,555,557 units of the Company (each, a \"Unit\") at a price of C$0.27 per Unit (the \"Offering Price\"). Red Cloud Securities Inc. (\"Red Cloud\") acted as sole underwriter and bookrunner under the Offering.Each Unit consists of one common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant entitles the holder to purchase one Common Share (each, a \"Warrant Share\") at a price of C$0.40 at any time on or before July 29, 2028.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 Amended Offering Document (as defined herein). In accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Units were issued to Canadian purchasers 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 Shares and the Warrant Shares underlying the Units are immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units were also 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 the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"). All securities not issued pursuant to the Listed Issuer Financing Exemption are subject to a hold period in accordance with applicable Canadian securities law, expiring ...