Americas Silver Corporation Announces Closing of $20 Million Financing

Americas Silver Corporation (TSX:USA) has announced further to its press release on May 20, 2016 has closed the private placement of approximately 67 million units at a price of $0.30 per unit for total gross proceeds of approximately $20 million.
As quoted in the press release:

 A concurrent private placement of subscription receipts announced May 24, 2016 (the “Concurrent Offering”) with additional gross proceeds of up to C$11.5 million is expected to close on or about Tuesday June 14, 2016.  The proceeds of the Concurrent Offering will be held in escrow pending satisfaction of release conditions including shareholder approval.
Each Unit consists of one common share of the Company (each a “Common Share”) and one quarter of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant”).    Each Warrant entitles the holder thereof to acquire one Common Share (each, a “Warrant Share”) at an exercise price of C$0.39 per Warrant Share for a period of 5 years following the closing date of the Offering.
The Offering was co‐led by GMP Securities L.P. and Medalist Capital Ltd., on behalf of a syndicate of agents including Cormark Securities Inc. and Mackie Research Capital Corporation. The net proceeds of the Offering are expected to be used by the Company for capital programs at the Galena Complex and San Rafael Property, debt repayment, working capital and general corporate purposes.
All securities issued in the Offering are subject to a statutory four month hold period.

Click here to read the full press release.