Business
Zacatecas Silver Announces an Increase of Previously Announced Financing to $18 Million
TORONTO, March 04, 2022 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. (TSXV:ZAC) (the “Company”) is pleased to announce today that, due to strong demand, it has ag
About this update from Zacatecas Silver Corp.
[{"type":"text","content":" TORONTO, March 04, 2022 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. (TSXV:ZAC) (the “Company”) is pleased to announce today that, due to strong demand, it has agreed with Clarus Securities Inc. (“Clarus”) as lead agent on behalf of a syndicate of agents including Eventus Capital Corp., Haywood Securities Inc., and Canaccord Genuity Corp. (collectively, the “Agents”), to increase the size of its previously announced C$15,000,700 offering. Pursuant to the upsized deal terms, the Agents have agreed to sell, on a “best efforts” private placement basis, up to 15,000,000 subscription receipts of the Company (the “Subscription Receipts”) at a price of C$1.10 per Subscription Receipt (the “Offering Price”) for aggregate gross proceeds to the Company of up to C$16,500,000 (the “Offering”). In addition, the Company intends to complete a concurrent non-brokered private placement offering of 1,364,000 Subscription Receipts on the same terms as the Offering for gross proceeds of $1,500,400 which brings the total amount of the financing to $18,000,400. The proceeds raised from the Offering will be used partially to satisfy the USD$5,000,000 cash consideration in connection with the acquisition of the Esperanza Project from Alamos Gold Inc., begin advancing the Esperanza Project towards production, fund the ongoing drill program at the Company’s existing silver project, and general working capital purposes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the acceptance by the TSX Venture Exchange. The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended. The securities being offered have not, nor will they be 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, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. Additionally, the Company has granted Clarus, on behalf of the ...