Summa Silver Announces Closing of $6.5 Million Brokered Financing
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) has completed a brokered financing raising $6.48 million through a combined Listed Issuer Financing Exemption and private placement. The offering consisted of units priced at $0.40 each, with each unit comprising one common share and half a warrant. Each whole warrant is exercisable at $0.55 until November 1, 2026. The offering included 12.5 million LIFE units and 3.7 million Accredited Investor units. The company paid agents a cash commission of $399,525 and issued 998,813 broker warrants. Proceeds will fund exploration work and general working capital.
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) ha completato un finanziamento tramite broker raccogliendo $6,48 milioni attraverso un'esenzione per finanziamenti di emittenti quotati e un collocamento privato. L'offerta consisteva in unità al prezzo di $0,40 ciascuna, con ciascuna unità composta da un'azione comune e da metà di un warrant. Ogni warrant intero è esercitabile a $0,55 fino al 1° novembre 2026. L'offerta ha incluso 12,5 milioni di unità LIFE e 3,7 milioni di unità per Investitori Accreditati. L'azienda ha pagato agli agenti una commissione in denaro di $399.525 e ha emesso 998.813 warrant per broker. I proventi finanzieranno lavori di esplorazione e capitale circolante generale.
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) ha completado un financiamiento a través de un corredor, recaudando $6.48 millones mediante una combinación de Excepción de Financiamiento para Emisores Cotizados y colocación privada. La oferta consistió en unidades con un precio de $0.40 cada una, donde cada unidad comprendía una acción común y medio warrant. Cada warrant completo es ejercitable a $0.55 hasta el 1 de noviembre de 2026. La oferta incluyó 12.5 millones de unidades LIFE y 3.7 millones de unidades para Inversores Acreditados. La compañía pagó a los agentes una comisión en efectivo de $399,525 y emitió 998,813 warrants para corredores. Los ingresos se destinarán a trabajos de exploración y capital de trabajo general.
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF)는 브로커를 통해 $6.48백만의 자금을 모으는 자금을 완료했습니다. 이는 상장 발행자 금융 면책과 사모 배치를 통해 이루어졌습니다. 이번 공모는 각각 $0.40에 가격이 책정된 유닛으로 구성되었으며, 각 유닛은 한 개의 보통주와 반 개의 워런트로 구성됩니다. 전체 워런트는 $0.55에 2026년 11월 1일까지 행사할 수 있습니다. 이번 공모에는 1,250만 개의 LIFE 유닛과 370만 개의 인증 투자자 유닛이 포함되었습니다. 회사는 중개인에게 $399,525의 현금 수수료를 지급했으며, 998,813개의 브로커 워런트를 발행했습니다. 수익금은 탐사 작업 및 일반 운영 자금에 사용될 예정입니다.
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) a complété un financement par l'intermédiaire d'un courtier, levant $6,48 millions à travers une combinaison d'Exemption de Financement pour Émetteurs Cotés et de placement privé. L'offre était constituée d'unités au prix de $0,40 chacune, chaque unité comprenant une action ordinaire et une demi-warrant. Chaque warrant complet est exerçable à $0,55 jusqu'au 1er novembre 2026. L'offre incluait 12,5 millions d'unités LIFE et 3,7 millions d'unités pour Investisseurs Accrédités. La société a versé aux agents une commission en espèces de $399,525 et a émis 998,813 warrants pour courtiers. Les recettes seront utilisées pour le travail d'exploration et le fonds de roulement général.
Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) hat eine vermittelte Finanzierung abgeschlossen und $6,48 Millionen durch eine kombinierte Befreiung von der Emissionspflicht und eine Privatplatzierung gesammelt. Das Angebot bestand aus Einheiten, die jeweils $0,40 kosteten, wobei jede Einheit aus einer Stammaktie und einem halben Warrant bestand. Jeder gesamte Warrant ist bis zum 1. November 2026 zu einem Preis von $0,55 ausübbar. Das Angebot umfasste 12,5 Millionen LIFE-Einheiten und 3,7 Millionen Einheiten für akkreditierte Investoren. Das Unternehmen zahlte den Vermittlern eine Barprovision von $399.525 und gab 998.813 Broker-Warrants aus. Die Erlöse werden zur Finanzierung von Explorationsarbeiten und allgemeinem Betriebskapital verwendet.
- Successfully raised $6.48 million in new capital
- LIFE Units are immediately free-trading under Canadian securities laws
- Share dilution through issuance of 16.2 million new units
- Additional potential dilution from 998,813 broker warrants
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2024) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ("Summa" or the "Company" ) is pleased to announce the closing of its previously announced brokered offering (the "Offering") of units of the Company (each, a "Unit") at a price of
The Offering was led by Research Capital Corporation and Eventus Capital Corp. as the co-lead agents and joint bookrunners, on behalf of a syndicate of agents, including Eight Capital (collectively, the "Agents").
Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall be exercisable to acquire one Common Share at a price of
The net proceeds of the Offering will be used for further exploration work on the Company's projects and for general working capital purposes.
As part of the Offering, 12,500,000 Units ("LIFE Units") were sold to purchasers pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions in all provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States. In addition, 3,707,500 Units ("Accredited Investor Units") were sold to accredited investors under the accredited investor exemption in all provinces of Canada, and other qualifying jurisdictions, including the United States. The LIFE Units offered are immediately "free-trading" under applicable Canadian securities laws. Unless permitted under securities legislation, the Accredited Investor Units cannot be traded before March 2, 2025.
In connection with the Offering, the Company paid to the Agents a cash commission of
An insider of the Company subscribed for 68,000 LIFE Units for gross proceeds of
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Summa Silver Corp
Summa Silver Corp is a junior mineral exploration company. The Company owns a
Follow Summa Silver on Twitter: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Galen McNamara"
Galen McNamara, Chief Executive Officer
info@summasilver.com
www.summasilver.com
Investor Relations Contact:
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com
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.
Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things: the use of proceeds of the Offering.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; the ongoing conflict in Ukraine; and other related risks and uncertainties disclosed in the Company's public disclosure documents.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228606
FAQ
How much did Summa Silver (SSVRF) raise in its November 2024 financing?
What is the exercise price and expiry date for Summa Silver's (SSVRF) new warrants?
How many LIFE Units did Summa Silver (SSVRF) sell in the November 2024 offering?
