South American Silver Announces Closing of $31.9 Million Financing

South American Silver Corp. (TSX:SAC, PINK SHEETS:SOHAF) announces it has closed its $31.9 million private placement of 27.5 million common shares.

The press release is quoted as saying:

The largest component of the Offering consisted of a strategic investment by Zamin Precious Minerals Limited, who purchased 18,900,000 common shares of the Company, giving them ownership of approximately 19.7% of the issued shares of the Company, of the 96,174,353 common shares of the Company issued and outstanding following completion of the Offering.

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