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Southern Silver Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$6 Million
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - Southern Silver Exploration ...
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$6 MillionVancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - Southern Silver Exploration Corp. (TSXV: SSV) (the \"Company\" or \"Southern Silver\") is pleased to announce the closing of its previously announced \"bought deal\" private placement (the \"Offering\") for gross proceeds of C$6,000,000, which includes the exercise in full of the over-allotment option. Pursuant to the Offering, the Company sold 12,000,000 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\"). Red Cloud Securities Inc. (\"Red Cloud\") acted as sole underwriter and bookrunner under 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). In accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Common Shares were sold 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\") and sold in offshore jurisdictions and in the United States by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"). The Common Shares are immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. As consideration for their services, Red Cloud received aggregate cash fees of C$346,800 and 693,600 non-transferable common share purchase warrants (the \"Broker Warrants\"). In addition, the Company has paid finders' fees of $5,400 and issued 10,800 non-transferable common share purchase warrants (the \"Finder Warrants\") to certain finders in consideration for introducing subscribers under a President's list. Each Broker Warrant and Finder Warrant is exercisable into one Common Share at the Offering Price at a...