Vancouver, British Columbia - Masivo Silver Corp. ('Masivo' or the 'Company') (TSXV: MASS) (OTC: GNYPF).
The Company is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement.
The Company raised gross proceeds of $504,700 with the issuance of 8,411,668 units (the 'Units') consisting of one common share and one half of a common share purchase warrant (4,205,834) with all securities having a four-month hold period. Each full warrant entitles the holder to purchase one common share at a price of $0.10 for a period of 12 months. The Company paid $13,335 in Finders' fees on this portion of the offering and issued 222,250 finders' warrants pursuant to the policies of the TSX Venture Exchange. The Offering is subject to the final approval of the TSX Venture Exchange. The Company is continuing to process the balance of the subscription agreements for a second and final closing of the private placement. The net proceeds of the Offering will be used to advance exploration activities on the company's Boston Mine in Nevada and at the Cerro Colorado project in Sonora, Mexico, as well as for general working capit
About Masivo Silver Corp.
Masivo is a Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Masivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinaloa, Mexico. The Company's mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day.
Contact:
Email: davidcoburn@masivosilver.com
Tel: +1 (602) 315-1231
This press release contains 'forward-looking information' that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration plans. The words 'will', 'anticipated', 'plans' or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
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