- Zacatecas Silver Corp. (ZAC) is upsizing its previously announced private placement to $16.5 million
- It will simultaneously complete a non-brokered private placement offering on the same terms for $1.5 million
- The company has granted an agents’ option for an additional 15 per cent of the offering
- The proceeds will help pay for the Esperanza Project, fund its current project, and general working capital purposes
- The Zacatecas Silver property has produced over 6.2 billion ounces of silver
- Zacatecas Silver Corp. (ZAC) is unchanged trading at $1.30 per share as of 1:00 p.m. EST
Zacatecas Silver Corp. (ZAC) has upsized its previously announced private placement to $16.5 million.
The agents leading the transaction have agreed to sell up to 15 million subscription receipts for $1.10 per subscription receipt on a “best efforts” private placement basis.
Zacatecas will simultaneously complete a non-brokered private placement offering of 1.36 million subscription receipts on the same terms for $1.5 million.
The company has granted an agents’ option to offer an additional 15 per cent of the offering on the same terms as the subscription receipts and can be exercised in whole or in part.
The proceeds will be used to partially satisfy a related US$5 million acquisition of the Esperanza Project from Alamos Gold Inc., begin advancing it towards production, fund the ongoing drill program at its existing silver project, and general working capital purposes.
The Zacatecas Silver property is in Zacatecas State, Mexico, within the highly prospective Fresnillo Silver Belt, which has produced over 6.2 billion ounces of silver.
Zacatecas Silver Corp. (ZAC) is unchanged trading at $1.30 per share as of 1:00 p.m. EST.