Junior Canadian explorer Summa Silver Corp. (TSXV: SSVR) has closed its previously announced brokered private placement offering for aggregate gross proceeds of approximately C$10,312,300 from the issuance of 12,890,375 units of the company. This includes the partial exercise of the agents’ option, at a price of C$0.80 per unit.
Mr Eric Sprott subscribed into the offering as a lead subscriber for C$3M.
The company owns a 100% interest in the Hughes property located in central Nevada and has an option to earn 100% interest in the Mogollon property located in southwestern New Mexico.
The net proceeds of the offering will be used for further exploration work on the company’s projects and for general working capital purposes.
Galen McNamara, Summa Silver’s CEO, said, “Firstly I would like to thank all of our shareholders for their support. Closing this financing places the company in a strong position to start 2023.
“The fundamentals for silver look strong and will be increasingly bolstered by the expected increase in demand from the solar and electric vehicle sectors.
“It is our goal that one day the silver deposits we uncover will help bring more prosperity to the regions of New Mexico and Nevada where we work, while protecting the environment and preserving the rural lifestyles of these two special parts of America.”
To find out more, visit: https://summasilver.com/
