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Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) closed the second tranche of its non-brokered private placement for gross proceeds of $364,000. 18,200,000 units were issued at a price of $0.02 per unit. In conjunction with the first tranche that closed on September 13, 2013, the Company has raised a gross total of $500,603, which is an oversubscription of the offering.
As quoted in the press release:
Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.05 per share. Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants and finder’s warrants issued as finder’s fees, carry a legend restricting trading of the securities until February 12, 2014.
Click here to read the Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) press release
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