- Summa Silver (SSVR) will issue up to 6.6 million units at a price of $0.90 per unit for gross proceeds of up to $6,000,000
- The company will issue up to 6.6 million units at a price of $0.90 per unit
- The offering is being conducted by Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners
- The offering is expected to close on or about February 10, 2022
- Summa Silver is a Canadian junior mineral exploration company focused on projects in Nevada and New Mexico
- Summa Silver Corp. (SSVR) opened trading at C$1.05 per share
Summa Silver (SSVR) has announced a brokered private placement offering for gross proceeds of up to $6,000,000.
The company will issue up to 6.6 million units at a price of $0.90 per unit.
Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant shall be exercisable for one additional share at a price of $1.20 for a period of 36 months from the closing of the offering.
The offering is being conducted by Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners. The company has granted the agents an over-allotment option, exercisable up to 48 hours prior to the closing date of the offering, to sell up to an additional 15 per cent of the offered units at a price of $0.90 per unit.
Summa Silver has agreed to pay the agents a cash commission and compensation warrants.
Galen McNamara, CEO of Summa Silver commented on the financing.
“We are grateful for the strong support from current shareholders and delighted to welcome new investors to the company. We look forward to continuing to drill zones of known high-grade silver and gold while advancing two of the best US silver projects towards mineral resources this year.”
The net proceeds from the offering will be used for exploration, corporate development, and general working capital purposes.
The offering is expected to close on or about February 10, 2022.
All securities issued will be subject to a four-month hold period under applicable Canadian securities laws.
Summa Silver is a Canadian junior mineral exploration company focused on projects in Nevada and New Mexico.
Summa Silver Corp. (SSVR) opened trading at C$1.05 per share.