Southern Silver Exploration (SSV.V) would like to capitalize on the good results included in the updated Preliminary Economic Assessment, which we discussed in this article.
The company is currently working on a C$3.3M raise priced at C$0.22 per unit with each unit consisting of one common share and half a warrant with each full warrant allowing a shareholder to purchase an additional share at C$0.30 during a three year period. The unit price has been reduced due to the relatively weak demand and we hope the current repricing will be sufficient to fill the treasury again.
The proceeds of the financing will be used to shore up the balance sheet and to fund additional activities on the company’s flagship property, Cerro Las Minitas.
Disclosure: The author has a long position in Southern Silver. Southern Silver is a sponsor of the website. Please read the disclaimer.
