- AbraSilver Resource Corp. (ABRA) has announced a bought deal private placement for gross proceeds of $8,000,140
- The company will issue 21,622,000 units at $0.37 per unit
- The offering is expected to close on or about December 6, 2022
- Net proceeds will be used for the continued exploration of its projects in Argentina
- AbraSilver is an exploration company focused on rapidly advancing its 100 per cent-owned Diablillos silver-gold project in the Salta province of Argentina
- AbraSilver Resource Corp. (ABRA) opened trading at C$0.40
AbraSilver Resource Corp. (ABRA) has announced a bought deal private placement for gross proceeds of $8,000,140.
The company will issue 21,622,000 units at $0.37 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share for $0.50 for a period of 24 months following the closing date of the offering.
The company has granted the underwriters an option, exercisable in whole or in part up to 48 hours prior to the closing of the Offering, to offer and sell up to an additional 5,405,000 units for additional gross proceeds of up to $1,999,850.
Net proceeds will be used for the continued exploration of its Diablillos silver-gold project in Argentina, the commencement of a drilling program on its La Coipita Project, the payment of mineral interest commitments, and general corporate purposes.
John Miniotis, President and CEO, commented on the upcoming capital raise.
“We are very pleased to announce this financing which will further strengthen our balance sheet and provide us with the additional financial flexibility to pursue our mineral resource growth objectives. This financing secures the capital required for the Company to continue to rapidly grow and advance our flagship Diablillos Project, as well as follow-up drilling on our prospective La Coipita project.”
The offering is expected to close on or about December 6, 2022.
AbraSilver is an exploration company focused on rapidly advancing its 100 per cent-owned Diablillos silver-gold project in the Salta province of Argentina. In addition, AbraSilver owns a portfolio of earlier-stage copper-gold projects, including the La Coipita copper-gold project in Argentina.
AbraSilver Resource Corp. (ABRA) opened trading at C$0.40.