- Summa Silver Corp. (SSVR) has closed its upsized brokered private placement for gross proceeds of approximately $11.5 million
- The company issued 12,777,765 units priced at $0.90 per unit
- The offering was led by Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners
- The net proceeds will be used for exploration, corporate development, and general working capital purposes
- Summa Silver is a Canadian junior mineral exploration company
- Shares of Summa Silver Corp. (SSVR) opened trading at C$1.10
Summa Silver Corp. (SSVR) has closed its previously announced private placement for gross proceeds of $11.5 million.
The company issued a total of 12,777,765 units priced at $0.90 per unit.
Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant can be exercised for one share at a price of $1.20 for a period of 36 months from the closing of the offering.
Mr. Eric Sprott and First Majestic Silver Corp. were lead subscribers.
The offering was led by Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners. The agents received a cash fee and warrants.
The net proceeds will be used for exploration, corporate development, and general working capital.
“Closing this financing places the company in a strong position to aggressively drill two high-grade silver projects in the United States in 2022,” said Galen McNamara, Chief Executive Officer of the company.
“I would like to thank all new and existing shareholders whose support we are grateful for. We look forward to the continued pursuit of high-grade silver mineralization over the coming weeks and months.”
Summa Silver is a Canadian junior mineral exploration company.
Shares of Summa Silver Corp. (SSVR) opened trading at C$1.10.