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Southern Silver Exploration Corp. (“Southern Silver”) (TSX VENTURE:SSV)(FRANKFURT:SEG) announces that it has closed the final tranche of its previously reported non-brokered private placement by issuing 43,534 units at a price of $0.17 per unit for gross proceeds of $7,400.78.
Together with the first tranche closing on July 20, 2011 and the second tranche closing on August 16, 2011, Southern Silver has raised an aggregate $3,274,785.
Net proceeds from the private placement will be utilized for exploration and property maintenance expenses incurred on the Cerro Las Minitas and Minas de Ameca projects in Mexico and the Oro project in the USA.
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