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Zacatecas Silver Closes Final Tranche of Private Placement of Units

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Zacatecas Silver (ZAC.V) has closed the second and final tranche of a non-brokered private placement through the issuance of 14.6 million units at C$0.07 per unit for gross proceeds of C$1.0 million, the company said Friday.

Under the entire offering, Zacatecas issued 35.7 million units for gross proceeds of C$2.5 million. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share for C$0.09 for a two-year period.

The company will use the proceeds to fund its planned maiden drill program at the Oso Negro project in Mexico, exploration across its Mexican portfolio and for general working capital.

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