ZCTSF - Zacatecas Silver Closes $2.5 Million Financing | Benzinga
VANCOUVER, British Columbia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. ("Zacatecas Silver" or the "Company", ZAC:TSX Venture; ZCTSF: OTC Markets; 7TV: Frankfurt) announces that due to strong interest it has closed its previously announced private placement financing (see news releases dated January 29, 2024 and February 5, 2024) by issuing 25,000,000 units at a price of $0.10 per Unit for total proceeds of $2,500,000 (the "Offering").
Each Unit consists of one common share (each, a "Common Share"); and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase a Common Share at an exercise price of $0.15 for a period of two years from the date of issue.
The securities under the Offering will be subject to restrictions on resale expiring on June 14, 2024. The Company paid registered finders a fee in cash of $55,037.50 as well as issuing 315,000 common shares and 865,375 non-transferable share purchase warrants. The Company intends to use the net proceeds to satisfy ongoing costs associated with its properties as well as general working capital purposes.
The securities referred to in this news release have not been, nor will they be, 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, U.S. persons absent U.S. registration or an applicable exemption from ...