- Kuya Silver Corporation (KUYA) has closed a private placement of units for gross proceeds of $2,573,100
- Kuya Silver issued a total of 5,718,000 units at $0.45 per unit
- At the same time, the company sold an aggregate of 1,320,000 units on a non-brokered private placement basis for extra gross proceeds of $594,000
- The company plans to use the proceeds for general working capital purposes
- Kuya Silver is a Canadian‐based mineral exploration and development company with assets in Peru and Canada
- Kuya Silver Corporation was up 3.17 per cent, trading at C$0.65 at 10:26 ET
Kuya Silver Corporation (KUYA) has closed a private placement of units for gross proceeds of $2,573,100.
Kuya Silver issued a total of 5,718,000 units at $0.45 per unit, including the full exercise of the agent’s over-allotment option.
The private placement was led by Canaccord Genuity Corp. and Research Capital Corporation and including Red Cloud Securities Inc.
Concurrent with the private placement, the company sold 1,320,000 units on a non-brokered private placement basis for additional gross proceeds of $594,000, on the same terms as the private placement.
Each unit consists of one common share of the company and one transferable common share purchase warrant.
Each warrant entitles the holder to purchase one common share at an exercise price of $0.70 for a period of five years following the closing of the private placement.
The company plans to use the proceeds for general working capital purposes.
As consideration for the services provided by the agents, the company paid cash fees totalling $190,026 and issued 422,280 non-transferable broker warrants.
Kuya Silver is a Canadian‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
Kuya Silver Corporation was up 3.17 per cent, trading at C$0.65 at 10:26 ET.