By Laura Lutz
Des Moines, June 25 - Mexican Silver Mines Ltd. increased the maximum size of its private placement of units to C$14 million from C$10 million.
The offering was upsized "in response to stronger than anticipated demand," according to a company news release.
The company intends to sell up to 14 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.30 for two years.
Settlement is now expected on June 29.
Proceeds will be used for exploration and working capital.
Ascenta Finance Corp. is the company's adviser for the deal.
Mexican Silver is a silver mining company based in Calgary, Alta.
| Issuer: | Mexican Silver Mines Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$14 million
|
| Units: | 14 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.30
|
| Adviser: | Ascenta Finance Corp.
|
| Pricing date: | June 4
|
| Upsized: | June 25
|
| Settlement date: | June 29
|
| Stock symbol: | TSX Venture: MSM
|
| Stock price: | C$1.16 at close June 4
|
| Stock price: | C$1.25 at close June 22
|
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