ZCTSF - Zacatecas Silver Closes Book on Upsized Financing | Benzinga
VANCOUVER, British Columbia , Feb. 05, 2024 (GLOBE NEWSWIRE) -- Zacatecas Silver Corp. ("Zacatecas Silver" or the "Company", ZAC:TSX Venture; ZCTSF: OTC Markets; 7TV: Frankfurt) announces that it has upsized and closed the book on its previously announced private placement financing (see news release dated January 29, 2024). The financing, originally consisting of an issuance of 18,000,000 units at a price of $0.10 per Unit for total proceeds of $1,800,000 has been upsized to 25,000,000 units at a price of $0.10 per Unit for total proceeds of $2,500,000 (the "Offering"). The Company will now proceed to immediately close the financing, by way of receiving subscription agreements and funds and intends to close within the next week.
As previously disclosed, under the Offering, each Unit will consist 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 four months and day after issue. The Company may pay registered finders a fee in cash and/or 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 ...