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Southern Silver Exploration Announces C$3.5 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - Southern Silver Exploration Corp. (TSX: SSV) (the "Company" or "Southern Silver") announces that
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - Southern Silver Exploration Corp. (TSX: SSV) (the \"Company\" or \"Southern Silver\") announces that it proposes to undertake a non-brokered private placement consisting of 13,000,000 units at $0.27 for gross proceeds of $3,510,000. Each Unit will be comprised of one common share and one-half (0.5) of one warrant. Each whole warrant entitles the holder thereof to purchase one common share for a period of 3 years at a price of $0.40. The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from closing. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Net proceeds from the private placement will be used for the continued development of the Cerro Las Minitas (CLM) property, Durango Mexico and for working capital. Following the recent PEA update, management is now considering the company's next steps in the advancement and development of the project. As currently modelled, the CLM project features a large-Scale underground mining operation with robust project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas Project please refer to NR-01-24 dated June 10, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Units, nor was there any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Units offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person. About Southern Silver Exploration Corp. Southern Silver Exploration Corp. is an exploration and development company with a focus on the dis...