After initially cutting the unit price and reducing the size of the financing, Southern Silver Exploration (SSV.V) has now announced it is increasing the size of its financing again to C$4.5M. The terms of the financing, a unit financing priced at C$0.22 per unit with each unit consisting of one common share and half a warrant with an exercise price of C$0.30 for a period of three years.
The proceeds of the financing will obviously be used to fund additional activities to enhance the value of its flagship Cerro Las Minitas project in Mexico’s Durango state, which is currently being advanced as an underground mine.
Disclosure: The author has a long position in Southern Silver. Southern Silver Exploration is a sponsor of the website. Please read the disclaimer.
