Regency Silver Announces Final Closing of Oversubscribed Private Placement

Rhea-AI Summary

Regency Silver Corp. announces the final closing of an oversubscribed private placement, raising $215,200 out of a total of $993,700. The company issued 1,076,000 units at $0.20 per unit, with each unit consisting of one common share and one half of one transferable common share purchase warrant. The funds will be used for exploration, development, and general working capital.

VANCOUVER, BC / ACCESSWIRE / April 12, 2024 / Regency Silver Corp. ("Regency Silver" or the "Company", TSXV:RSMX and OTCQB:RSMXF) is pleased to announce that it has closed a further $215,200 of a previously announced non-brokered private placement of $800,000. Due to demand the offering was upsized to a total of $993,700.

Regency Silver has issued 1,076,000 units at a price of $0.20 per unit on this final tranche closing for gross proceeds of CAD$215,200. Each Unit is comprised of one common share of the Company and one half of one transferable common share purchase warrant (the "Warrants"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of CAD$0.30 per share for a period of two years from the date of issuance.

In connection with this closing, the Company paid cash finder's fees of $8,492 and issued 42,460 broker warrants. Each broker warrant will entitle the holder to purchase one common share of the Company at a price of CAD$0.30 per share for a period of two years from the date of issuance.

All securities issued under the private placement will be subject to a four month hold period, in accordance with applicable Canadian securities laws.

The proceeds will be used for exploration and development of the Company's properties and general working capital.

For further details about Regency Silver please visit the Company's website at www.Regency-Silver.com.

Contact Information

Regency Silver Corp.

Kin Communications Inc.
Phone: 1-604-684-6730
Email: RSMX@kincommunications.com

Bruce Bragagnolo, Executive Chairman
Phone: 1-604-417-9517
Email: bruce@regency-silver.com

Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: gijs@regency-silver.com

ABOUT REGENCY SILVER CORP.:

Regency Silver Corp. is a Canadian resource company exploring for high grade gold, copper, and silver in Mexico. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency's flagship project is the high grade Dios Padre project in Sonora, Mexico where Regency has made a large, high grade, gold-copper-silver discovery which appears to be a large magmatic-hydrothermal system which widens at depth. Drill results have included 38 metres of 7.36 g/t gold in hole REG 23-21, 36 metres of 6.84 g/t gold, 0.88% copper and 21.8 g/t silver in hole REG 22-01, and 29.4 m of 6.32 g/t gold in hole REG 23-14.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Regency Silver Corp.

View the original press release on accesswire.com

FAQ

What is the purpose of Regency Silver's private placement?

The purpose of the private placement is to raise funds for exploration, development of the company's properties, and general working capital.

How much did Regency Silver raise in the private placement?

Regency Silver raised $215,200 in the final closing of the private placement, out of a total of $993,700.

What is the price per unit in Regency Silver's private placement?

The price per unit in the private placement was $0.20.

What is included in each unit of Regency Silver's private placement?

Each unit consists of one common share of the company and one half of one transferable common share purchase warrant.

What is the exercise price of the warrants issued by Regency Silver?

The warrants issued by Regency Silver are exercisable at a price of CAD$0.30 per share for a period of two years from the date of issuance.