Southern Silver Announces Revision to Previously Announced Non-Brokered Private Placement
Southern Silver Announces Revision to
Previously Announced Non-Brokered Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2024) -
Southern Silver Exploration Corp.
(TSXV: SSV) (the "Company" or "Southern Silver")
announces that it has revised the terms of the
previously announced non-brokered private placement (the "Offering"). The Offering now consists of
15,000,000 units at $0.22 for gross proceeds of $3,300,000.
Each unit will be comprised of one
common share and one-half (0.5) of one warrant. Each whole warrant entitles the holder thereof to
purchase one common share for a period of 3 years at a price of $0.30.
The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with
the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued
and sold under the Offering will be subject to a hold period expiring four months and one day from
closing. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of
all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Net proceeds from the private placement will be used for the continued development of the Cerro Las
Minitas (CLM) property, Durango, Mexico and for working capital. Following the recent PEA update,
management is now considering the company's next steps in the advancement and development of the
project.
As currently modelled, the CLM project features a large-Scale underground mining operation with robust
project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast
Durango, Mexico.
For more information on the details of the current economic assessment of the Cerro Las Minitas Project
please refer to NR-01-24 dated June 10, 2024.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor
was there any sale of the units in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The
units offered will not be, and have not been, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States or to, or for the account or benefit
of, a U.S. person.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the
discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral
properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-
lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral
deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team
of highly experienced technical, operational and transactional professionals to support our exploration
efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our
property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein
project where permitting applications for the conduct of a drill program is underway, both located in
southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and
supervised directly the collection of the data from the CLM Project that is reported in this disclosure and
is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at
southernsilverexploration.com
or contact
us at 604.641.2759 or by email at
.
Neither 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.
This news release contains forward-looking statements. 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. These statements are
based on a number of assumptions, including, but not limited to, assumptions regarding the amount of the Offering and completion of the Offering,
general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the Company's projects, and the
availability of financing for the Company's development projects on reasonable terms.
Factors that could cause actual results to differ materially
from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of
capital and financing and general economic, market or business conditions.
Southern Silver Exploration Corp. does not assume any obligation to
update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by
applicable law.
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DISSEMINATION IN THE UNITED STATES
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