Southern Silver Increases Previously Announced Equity Financing
Southern Silver Increases Previously Announced Equity
Financing
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2019) -
Southern Silver Exploration Corp. (TSXV: SSV)
("Southern Silver")
announces that due to increased interest the previously announced $2,000,000 private placement has
been increased to $3,000,000. The Company now plans to issue up to 15,000,000 units ("Units") in the non-brokered private
placement at a price of $0.20 per Unit for gross proceeds of $3,000,000. Each Unit will consist of one common share and one
share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of five years at an
exercise price of $0.25 per share.
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 an over-allotment option
(Greenshoe) to allow a purchase of up to 10% additional Units beyond the number of Units in this Offering is included.
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.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and responsible for the
supervision of the exploration on the Cerro Las Minitas Project and for the preparation of the technical information in this
disclosure.
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.
This news release is intended for distribution in Canada only and is not intended for distribution to United States
newswire services or dissemination in the United States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/46500