Summa Silver Upsizes Brokered Financing to $6 Million
Summa Silver Corp. (SSVR) has increased its brokered private placement from $5 million to $6 million due to strong investor demand. The company will issue up to 2.5 million additional units at $0.40 per unit. Each unit includes one common share and half a warrant, with each whole warrant exercisable at $0.55 for 24 months. The offering is led by Research Capital and Eventus Capital Corp. An additional agents' option could increase the offering by up to $900,000. The proceeds will fund exploration work and working capital. The offering is expected to close around November 1, 2024, subject to regulatory approvals.
Summa Silver Corp. (SSVR) ha aumentato il suo collocamento privato brokerato da 5 milioni a 6 milioni di dollari a causa della forte domanda degli investitori. L'azienda emetterà fino a 2,5 milioni di unità aggiuntive a 0,40 dollari per unità. Ogni unità include una azione ordinaria e mezzo warrant, con ogni warrant intero esercitabile a 0,55 dollari per 24 mesi. L'offerta è guidata da Research Capital e Eventus Capital Corp. Un'opzione per gli agenti potrebbe aumentare l'offerta di ulteriori 900.000 dollari. I proventi finanzieranno il lavoro di esplorazione e il capitale circolante. Si prevede che l'offerta si chiuda intorno al 1° novembre 2024, soggetta ad approvazioni regolatorie.
Summa Silver Corp. (SSVR) ha aumentado su colocación privada mediada de 5 millones a 6 millones de dólares debido a la fuerte demanda de los inversores. La empresa emitirá hasta 2,5 millones de unidades adicionales a 0,40 dólares por unidad. Cada unidad incluye una acción ordinaria y medio warrant, con cada warrant completo ejercitable a 0,55 dólares por 24 meses. La oferta está liderada por Research Capital y Eventus Capital Corp. Una opción adicional para los agentes podría aumentar la oferta en hasta 900.000 dólares. Los ingresos financiarán trabajos de exploración y capital de trabajo. Se espera que la oferta cierre alrededor del 1 de noviembre de 2024, sujeta a aprobaciones regulatorias.
Summa Silver Corp. (SSVR)는 투자자들의 강한 수요로 인해 500만 달러에서 600만 달러로 중개된 사모 배치를 증가시켰습니다. 회사는 주당 0.40달러로 최대 250만 개의 추가 유닛을 발행할 것입니다. 각 유닛은 한 주식과 반 개의 워런트를 포함하고 있으며, 각 전체 워런트는 24개월 동안 0.55달러에 행사할 수 있습니다. 이 제안은 Research Capital과 Eventus Capital Corp.에 의해 주도됩니다. 추가 에이전트 옵션이 제공될 경우, 제안은 최대 90만 달러까지 증가할 수 있습니다. 수익금은 탐사 작업 및 운영 자금을 지원할 것입니다. 이 제안은 2024년 11월 1일경에 마감될 것으로 예상되며, 규제 승인을 받을 예정입니다.
Summa Silver Corp. (SSVR) a augmenté son placement privé médié par des courtiers de 5 millions à 6 millions de dollars en raison de la forte demande des investisseurs. La société émettra jusqu'à 2,5 millions d'unités supplémentaires à 0,40 $ par unité. Chaque unité comprend une action ordinaire et une demi-option d'achat, chaque option entière étant exerçable à 0,55 $ pendant 24 mois. L'offre est dirigée par Research Capital et Eventus Capital Corp. Une option supplémentaire pour les agents pourrait augmenter l'offre de jusqu'à 900 000 $. Les produits financeront les travaux d'exploration et le fonds de roulement. L'offre devrait se clore autour du 1er novembre 2024, sous réserve des approbations réglementaires.
Die Summa Silver Corp. (SSVR) hat ihre vermittelte Privatplatzierung aufgrund der starken Nachfrage von Investoren von 5 Millionen auf 6 Millionen Dollar erhöht. Das Unternehmen wird bis zu 2,5 Millionen zusätzliche Einheiten zu 0,40 Dollar pro Einheit ausgeben. Jede Einheit umfasst eine Stammaktie und ein halbes Warrant, wobei jedes gesamte Warrant für 0,55 Dollar über 24 Monate ausübbar ist. Das Angebot wird von Research Capital und Eventus Capital Corp. geleitet. Eine zusätzliche Option für die Vermittler könnte das Angebot um bis zu 900.000 Dollar erhöhen. Die Erlöse werden die Erkundungsarbeiten und das Betriebskapital finanzieren. Es wird erwartet, dass das Angebot rund um den 1. November 2024 geschlossen wird, vorbehaltlich der regulatorischen Genehmigungen.
- Strong investor demand leading to $1 million upsize in financing
- Additional agents' option could provide extra $900,000 in funding
- Secured funding for exploration work and working capital
- Potential dilution for existing shareholders through new unit issuance
- 7% cash commission and broker warrants will reduce net proceeds
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ("Summa" or the "Company") is pleased to announce that, due to strong investor demand, it has upsized its previously announced brokered private placement (the "Offering") from
The Offering is being 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 Additional Unit will be 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.
In addition, the Company has granted the Agents an option (the "Agents' Option") to increase the size of the Offering by up to
The Additional Units are expected to be offered to purchasers pursuant to the accredited investor exemption under section 2.3 of National Instrument 45-106 - Prospectus Exemptions and will be subject to a statutory hold period of four months and one day.
The Offering is anticipated to close on or about November 1, 2024, or such later date as the Company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.
The Company has agreed to pay to the Agents a cash commission equal to
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 expected closing date of the Offering and 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/227510
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