- Nevada Silver Corp. (NSC) has closed the sale of securities of its indirectly wholly owned US subsidiary, North Star Manganese Inc (NSM)
- NSM sold a total of 3,160,233 shares at a price of US$0.25 per share for gross proceeds of US$790,058.23
- Proceeds from this financing will be used to advance technical studies at the Emily Manganese project and for general working capital
- Nevada Silver (NSC) is down 1.89 per cent trading at C$0.26 per share as of 3 pm ET
Nevada Silver Corp. (NSC) has closed the sale of securities of its indirectly wholly owned US subsidiary, North Star Manganese Inc (NSM).
NSM sold a total of 3,160,233 shares at a price of US$0.25 per share for gross proceeds of US$790,058.23.
As a result of the NSM Financing, the outstanding shares of NSM has increased to 33,160,233 shares of NSM common stock, with the company’s indirect shareholding reduced to 90.5 per cent.
The NSM financing was approved by the TSX Venture Exchange.
Proceeds from this financing will be used to advance technical studies at the Emily Manganese project and for general working capital.
NSM does not consider the Emily Manganese Project to be material to its operations.
Nevada Silver Corp is a mineral exploration company whose principal asset is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights over the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, with US$24 million invested to date. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.
Nevada Silver (NSC) is down 1.89 per cent trading at C$0.26 per share as of 3 pm ET.