Southern Silver Closes Final Tranche of Oversubscribed Private Placement
Southern Silver Closes Final Tranche of Oversubscribed
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2019) -
Southern Silver Exploration Corp.
(TSXV: SSV)
("Southern Silver" or the "Company") has closed the final tranche of its previously reported private placement by issuing
5,530,000 units at a price of $0.20 per unit for gross proceeds of $1,106,000.
Each unit consists of one common share and one
share purchase warrant exercisable to purchase one additional common share for a period of five years at an exercise price of
$0.25 per common share.
Securities issued pursuant to this tranche of the private placement, including common shares and
share purchase warrants, carry a legend restricting trading of the securities until January 5, 2020. In total, the Company has now
closed 21,032,500 Units in two tranches for total gross proceeds of $4,206,500.
Net proceeds from the private placement will be used for working capital and to cover our proportionate share (40%) of the costs
associated with the continued 2019-20 exploration programs on the Cerro Las Minitas property, Durango Mexico along with our
J/V partner, Electrum Global Holdings L.P. (60%). Finders' fees and commissions may be paid by Southern Silver in relation to
this offering and is subject to TSX Venture Exchange approval.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is a precious metal exploration and development company with a focus on the discovery of
world-class mineral deposits in north-central Mexico and the southern USA. Our specific emphasis is the 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, 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, along with our partner, Electrum Global Holdings LP,
the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition,
exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our
property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.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 may contain 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. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/47524