Prince Silver increases private placement to $4.75 million

Prince Silver Corp. (CSE:PRNC)(OTCQB: PRNCF)(Frankfurt:T130) announced it has increased the size of its non-brokered private placement from $3 million to up to $4.75 million due to investor demand.

The offering consists of units priced at $0.70 each. Each unit includes one common share and one-half of a common share purchase warrant. The warrants allow holders to purchase additional shares at $1.00 each for two years from issuance.

The company may issue up to 6,785,714 units for total gross proceeds of up to $4.75 million, subject to regulatory approval and closing conditions. All securities will be subject to a statutory hold period of four months and one day.

Prince Silver plans to use proceeds to advance drilling at the Prince Silver Project in Nevada's Pioche Mining District, complete a maiden mineral resource estimate, conduct metallurgical work, and for general working capital purposes.

The Vancouver-based company is developing its past-producing Prince Silver-Zinc-Manganese-Lead Mine in Nevada, which features near-surface mineralization previously tested by over 129 drill holes. The project remains open in all directions.

You May Also Be Interested In

• Securitize goes public on NYSE after SPAC merger closes
• Rubico Inc (RUBI) files $200M mixed shelf
• OneMedNet files to register resale of up to 11.68M shares