Kuya Silver completes CAD$9.07 million private placement offering

Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) completed the second and final tranche of its non-brokered private placement, issuing 2.28 million units at CAD$0.50 per unit for gross proceeds of CAD$1.14 million.

The completion brings the total offering to 18.14 million units, raising aggregate gross proceeds of CAD$9.07 million across both tranches. The offering was conducted under the Listed Issuer Financing Exemption available to purchasers in Canada, excluding Quebec, and other jurisdictions where permitted under local securities laws.

Each unit consists of one common share and one warrant. The warrants from the second tranche allow holders to purchase additional common shares at CAD$0.65 per share until August 20, 2028. Units issued under the offering are not subject to statutory hold periods under Canadian securities laws.

The company paid finder's fees totaling $45,600, representing up to 4% of proceeds from subscribers introduced by eligible finders. It also issued 91,200 non-transferable finder's warrants exercisable at CAD$0.50 per share until August 20, 2028.

Kuya Silver stated it intends to use net proceeds for exploration and development expenses at its Bethania project and general working capital purposes.

The company also announced continuation of its agreement with Focus Communications Investor Relations for strategic capital markets advisory services at CAD$6,000 per month. The engagement automatically renews for 12-month periods unless terminated with 30 days' notice.

Kuya Silver operates the Bethania silver mine in Peru and develops silver projects in Peru and Canada. The information is based on a company press release.

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