Southern Silver Exploration Cuts the Share Price for a Private Placement; Maintains C$4.0-Million Target
Southern Silver Exploration (SSV.V) on Thursday cut the price of its shares in offered in a private placement to $0.55 from $0.60, while boosting the number of shares offered to maintain the financing's $4.0 million target.The company said it will now offer up to 7.3-million shares at $0.55, up from its original goal of placing 6.7-million shares priced at $0.60.Proceeds of the offering will be used for the advancement of the Cerro Las Minitas project as well as for working capital and general corporate needs.Advancement of Cerro Las Minitas includes infill drilling of up to 12,500m in Phase 1, and other work will include an update of the mineral resource estimate based on the most recent drilling at Puro Corazon, scheduled for Q2 2026 and the advancement of several engineering opportunities identified in the 2024 preliminary economic assessment of the project.Shares of the company were last seen up $0.01 to $0.56 on the TSX Venture Exchange.Price: $0.56, Change: $+0.01, Percent Change: +1.82%
