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Electrum Global Holdings has acquired 9 million units of Southern Silver Exploration (TSXV:SSV). Electrum now owns 45.67 percent of Southern Silver shares, plus warrants, which, if exercised, would up its ownership to 62.71 percent of issued and outstanding shares.
As quoted in the press release:
Each Unit consists of one common share (“Shares”) in the capital of Southern Silver and one common share purchase warrant (the “Warrants”) entitling the holder(s) thereof to purchase one additional common share (a “Warrant Share”) at an exercise price of US$0.15 per Warrant Share at any time prior to June 26, 2020. The Units were acquired in a treasury private placement which closed on June 29, 2015.
Electrum owns 24,884,593 Shares representing approximately 45.67% of the issued and outstanding Shares. Electrum also owns Warrants exercisable for 24,884,593 Shares which, if exercised, would result in Electrum owning approximately 62.71% of the issued and outstanding Shares (assuming no other securities convertible into or exercisable for Southern Silver’s common shares are converted or exercised).
The Warrants and Shares referred to above are held for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.
Click here to read the Southern Silver Exploration (TSXV:SSV) press release
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