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Southern Silver Announces Upsize of Bought Deal LIFE Private Placement for Gross Proceeds of C$13.0 Million
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2025) - Southern Silver Exploration Corp...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"Southern Silver Announces Upsize of Bought Deal LIFE Private Placement for Gross Proceeds of C$13.0 MillionVancouver, British Columbia--(Newsfile Corp. - July 16, 2025) - Southern Silver Exploration Corp. (TSXV: SSV) (the \"Company\" or \"Southern Silver\") reports that as a result of strong investor demand, the Company has increased the size of its previously announced \"bought deal\" private placement (the \"Underwritten Offering\") from aggregate gross proceeds of approximately C$8,000,000 to aggregate gross proceeds of approximately C$13,000,000. Pursuant to the upsized Underwritten Offering, Red Cloud Securities Inc. (\"Red Cloud\"), as sole underwriter and bookrunner, has agreed to purchase for resale 48,148,149 units of the Company (each, a \"Unit\") at a price of C$0.27 per Unit (the \"Offering Price\"). Each Unit will consist 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 shall entitle the holder to purchase one Common Share (each, a \"Warrant Share\") at a price of C$0.40 at any time on or before that date which is 36 months after the Closing Date (as herein defined).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 7,407,408 Units at the Offering Price for additional gross proceeds of up to approximately C$2,000,000 (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 Amended 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 Units under the Offering will be offered for sale to purchasers resident in the provinces of British Columbia, Alberta, Manitoba, Saskatchewan and Ontario (and, with the consent of the Company, in Québec) pursuant to the listed issuer financing exemption under ...