Argentum Closes First Tranche of Placement
Argentum Silver Corporation Suite 311 - 409 Granville Street Vancouver, BC CANADA V6C 1T2
ARGENTUM CLOSES FIRST TRANCHE OF PLACEMENT
October 23, 2015 – Argentum Silver Corp. (ASL-V) ("Argentum" or the "Company") announces that it has closed the first tranche of its private placement initially announced on October 6, 2015. The Company issued a total of 2,680,000 units at $0.025 per unit for total gross proceeds of $67,000. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share an exercise price of $0.10 per common share until October 23, 2020.
Proceeds of the first tranche will be used as follows:
| Description | Amount |
|---|---|
| Property payment due December, 2015, on the Company’s Coyote Project | $30,500.00 |
| Auditor fees for 2014 and 2015 audits | 34,000.00 |
| Trust company fees | 2,500.00 |
| Total | $67,000.00 |
All securities issued under the placement are subject to statutory hold periods expiring on February 24, 2015.
About Argentum Silver
Argentum holds a 100% interest in the Coyote and Victoria properties located in Jalisco, Mexico, and the Lachiguiri and Silacayoapan properties located in Oaxaca, Mexico. For further information, please visit www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
“Geoff Balderson”
President & CEO
For information please contact:
Phone: 604-602-0001 Email: [email protected]
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.