- Nevada Silver (NSC) has closed its marketed private placement for gross proceeds of approximately $3.5 million
- A total of 21,212,000 common shares and 21,212,000 share purchase warrants were issued under the offering
- Company insiders acquired a total of 768,167 common shares and 768,167 warrants
- Nevada Silver is a resource company with two exploration projects in the U.S.
- Nevada Silver Corporation (NSC) is unchanged on the day, trading at C$0.145 per share at 10:30 am ET.
Nevada Silver (NSC) has closed its marketed private placement raising gross proceeds of approximately $3.5 million.
A total of 21,212,000 common shares and 21,212,000 share purchase warrants were issued under the offering. Each warrant is exercisable to acquire one additional common share until January 5, 2025.
Warrants issued are subject to an acceleration clause.
Cormark Securities Inc. acted as the sole agent in connection with the offering. In connection with the offering, the agent received a cash commission of $230,133.75 and 1,394,750 non-transferable compensation options.
Company insiders acquired a total of 768,167 common shares and 768,167 warrants.
Except for the common shares, all securities issued are subject to a statutory hold period until May 6, 2023.
Nevada Silver is a resource company with two exploration projects in the U.S. NSC’s principal asset is the Corcoran Silver-Gold Project in Nevada. The company also has management and ownership rights over the Emily Manganese Project in Minnesota, with US$24 million invested to date. Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.
Nevada Silver Corporation (NSC) is unchanged on the day, trading at C$0.145 per share at 10:30 am ET.